The Sun.
London, England, 1850-02-15 00:00:00

said, and if the affairs of the ccmpany were improved by
the extra exertions of their officers, he was sure neither
the directors nor the proprietors would object to an in-
crease in their remuneration.

The CHAIRMAN explaine 1 that it was intended to
assimilate the pay of the servants of the Great Western
to that of other lines of similar magnitude and extent,
hot it was intended not to reduce the salaries, but
only to diminish the number of officers, and thus
increase the duties of those who were retained,
Mr. Sanders, the secretary, had set an example to the
other higher officers of the company, by voluntarily
offering to reduce his salary from 2,0001. to 1,5001. per
annum.

Major COURT pointed out that the surplus of the past
half-year's income only amounted to 21,0001. since the
amount mentioned in the report included the balance of
the previous half•year. He proposed that they should
amalgamate with the South Wales Company in terms to
be agreed upon.
Mr. LAWRANCE complained of the silence of the
directors on the subject of a recommendation contained
in the report of the committee, that the law expenses
should be reduced, and the bills of their solicitors, both
past and present, should be taxed.
The CHAIRMAN said the bills since 1845 were now
undergoing taxation.
Mr. LAWRANCE said he understood one of the soli-
citors was a defaulter to the company, and he should bo
glad to know what the amount of defalcation was?

The CHAIRMAN replied between 45,0001. and 46,0001.,
which was paid to the party from time to time for the
purcha2e of land, but arrangements had been made with
the partners of the dcf tulter which might reduce the
amount, although the liability of the partners was a
question entirely of law. They were in hopes no loss
would result to the company.
Mr. JOHNSON asked what lines they were likely to
open this year?

- The Ciatamax said the directors expected to open
the Wilti line to Frome and the Oxford line to Banbury,
one a distance of twenty-four and the other a distance
of twenty-five miles.

Mr. HEMMING wished to know what money was paid
as law expenses for 1845.
The CIIAIRXAN could not say, but a proprietor in-
formed him that the amount was 154,4661.
Mr. SMITH said some time ago the cost cf works and
liabilities were estimated at 15,500,000/., and now it ap-
peared that they were 17,292,000/. How did the dif•
ference arise?

Mr. WITHERS, one of the committee, said the amount
included the whole of their subscriptions to other lines,
amounting to upwards of 1,800,0001. The estimate had
been taken at the extreme figure, but on certain con-
tingenciPs it would Le greatly reduced. The estimate
certainly could not be exceeded, but most likely would
b 3 reduced.

Mr. GonE, of Bath, did not think the company was
in a position to divide 41. per cent. In about twelve
m )nths the capital upon which they would have to di-
vide would be increased 2,000,000/., and he very much
questioned the prudnce of dividing so much as 41. per
cent. Now they would have shortly to go into the market
to raise 9,000,0004 and if they depreciated the value of
their property by dividing the profits to the maximum
exteet, they would inevitably suffer from the increased
iLterest they would have to pay for money. He sug-
7.ested, therefore, that they should divide 31. instead of
41. per cent.

Sir. WITHERS contended that this company was in
the fortunate position of being able to offer every secu-
rity for any money it might have to barrow, even at
the rate of 51. per cent. They had yet to open 100
miles of additional line, besides their subscriptions
to other companies; and as they were in a position
to give not only security to the bondholders, but to carry
a lar,ze balance to the credit of the shareholders, he saw
no difficulty in the way of dividing 41. per cent.
Mr. HEMMING wished to know if any movement was
going on to bring about a reduction of railway rating.
Tile CHAIRMAN said a committee was aitdng upon
the subject, and they hoped to introduce a Bill into Par-
liament to amend the law of rating in the course of the
present session.

Mr. JONES attributed the depression of their shares
to the heavy guarantee they had given to the South
Wales Company, and had no hope of restoring the
prosperity of the line units* there was an entire refor-
mation in its government. One director was a director
in five other companies, another in three, and
art? Vier in nine; while, by a return he held in his hand,
he saw that one director had subscribed 135,0001. to-
wards other lines disconnected with this, another
115,0001.. and another 504,000/.
The CHAIRMAN said they had subscribed to other
lines and become directors under Act of Parliament, as
the representatives of the Great Western.
Af,er some further discussion the motion flr the adop-
tion of the report was agreed to, the report of the com-
mitt-e of investigation adopted, the dividend declared
payable on an early day, and the retiring directors re-
elected.

This closed the business of the general meeting. The
shareholders then resol.red themselves into a special
meeting, and, on the motion of the chairman, agreed
to resolutions in accordance with the recommen-
&aims contained in the report, not, however,
until after considerable discussion. A committee
was &so appointed to conf.r with the com-
mittees of other companies on the subject of an Audit
Bill. The report of the committee of investigation was
also fully discussed, and thanks voted to the various
members of the committee, as well as to the chairman
and directors.

The meeting then broke up after a protracted sitting.

BUCKINGHAMSHIRE RAILWAY

The half-yearly ordinary meeting of this company
was held yesterday, in the Euston btation; Sir Harry
Verney, chairman of the board cf directors, in the chair.
The secretary, Mr. E. WATKIN. proceeded to read the
report and balance-sheet, which were afterwards adopted
and approved of.

Oa the motion of the CHAIRMAN, seconded by a Di-
aEcTon, Major-General Mclnnes and Mr. Carter were
re-appointed auditors cf the company.
• Mr. CAPRON moved that a committee of the share-
holders should be appointed to confer with the commit-
tee of the London and North-Western Railway en the
subject of establishing a railway audit independent of
Government, which was carried unanimously.
The meeting was then made special to consider
the drsfr, of a Bill propose] t) be introduced
into the next session, to enable th• company
to make an alteration in the lino at Oxford. The Sec-
retary read the draft of the Bill, which, after a few
remarks, was approved by a motion of the meeting pro-
posed by the Chairman and seconded by Mr. Mangles,
M.P.

The meeting then terminated with a vote of thanks to
he Chairman.

--
SOCIETY OF ANTIQUARIES.—Two important noti-
ticatious were made from the chair (occupied by Mr.
Bruce, the treasurer) last night. The one had reference
to the Lismore crosier, the property of the Duke of
Devonshire, to the exhibition of which his Grace has
kindly consented on Thursday, the 21st inst. It is a
moot remarkable relic, for although several ancient cro-
siers are known, we believe that not one has ever been
produced possessing such high claims on the score of its
age and workmanship; it is of bronze with two in
ecriptions in the Irish language, which were certainly
not placed upon it later than from A.D. 1110 to 1120. It
is very possible that the crosier itself is even older.
The other announcement was that Major Rawlin-
ton would be present on the same evening, and had
promised Lord Mahon (the president of the society,
echo will fill the chair on the occasion) to bring
with him another series of his Assyrian discoveries
and antiquities. The election of Mr. Ticknor, the
author of the just published history of Spanish litera-
ture, was unavoidably postponed until next week, when
the president, who proposed him (seconded by Mr. Hal-
lam, and some other members of the counoil), will be in
his place. The principal business of the evening was
the reading of a letter from Mr. Roach Smith, with
written illustrative notes by Sir Henry Dryden, Bart.,
on the discoveries made by the latter of very interesting
remains in certain barrows and tumuli, near Marston
Hill, Northamptonshire. They belonged to what is
called the transition period, and perhaps the most re-
markable point connected with them was the finding of a
skeleton of a horse, and his Anglo-Saxon caparisons,
buried near the body of his rider. The bit, buckles, &c.,
were all preserved, and drawings of nearly the whole of
the discoveries were sent by Sir U. Dryden and exhi-
bited in.ehe room. They were unusally interesting.
EQUALIZATION OF THE LAND-TAX.—Yesterday,
at ten o'clock, a meeting of the inhabitants of the parish
of St. Paul, Covent-garden, was held in the vestry-room
of that parish fur the purpose of considering the pro-
priety of petitioning Parliament for an equalization of
the unredeemed land-tax in England and Wales, and
taking such other steps as might be deemed expedient
with reference thereto. The Rev. B. Hutton, M.A.,
rector of the parish, occupied the chair. Resolutions
were carried to the effect, " That the present mode of
assessing and'collectime the land-tax by fixed quotas in-
stead of an equal pound rate is unequal and unjust, op-
pressive in some districts, and inconsiderable in others;
and that to continue the present power of redemption
under such unequal assessments is unfair to the places
highly taxed, and wasteful to the public resources, with-
out any corresponding benefit to the country;" " that the
levying of an equal sixpenny rate on the property liable
to the tax would realise 1,250,0001., and prove a far
more equitable mode of raising the impost, while it
would have the additional advantage of increasing the
revenue." A petition founded on the foregoing resolu-
tions was then unanimously adopted, which it was agreed
should be presented to the House of Commons by one of
the Members for the city of Westminster. A deputation
was also appointed to wait upon the officers of the other
parishes of Westminster, and impress on their minds the
pwrhoiperhi etthyeo
vf
estry adoptingh had
measures
view.
en-
tered
thevrioenteoediinngoardneercetossda:.y efftheecteaxnpeenctsuessiiiziidonenotfalthteo
land-tax. Upwards of afOratt.oYwere collected in the vestry
before the meeting broko up.
PARTY PROCESSIONS IN IRELAND.--The Bill to
restrain party processions in Ireland has been printed.
The first section renders it an act of misdemeanour to
join any assembly of persons in Ireland who are bear-
ing weapons, banners, &c., or accompanied by persons
playing music, calculated to provoke animosity between
different c'assei of her Majesty's subjects. Persons re-
ruto disperse after duo notice may be apprehened
anstillg summarily proceeded against. On conviction they
are to be fined 51, or imprisoned for one calendar month.
The fine or term of imprisonment is doubled for any
second offonc-. It is provided by the fourth section that
no person thus summarily proceeded against can after-
wards be indicted for misdemeanour for being present at
the tame unlawful assembly.
There are dates fom Pernambuco to the Ith
Jantury. They do not contain any political news of
importance. Exchange was 27:41d. In other respacts
nothing was reported,