The Sun.
London, England, 1850-07-30 00:00:00

orate but that gentleman would not do so. The contrac'or
might, without that condition, have had his plant seized
by the debenture holders. Therefore they saw that if
they closed the line they would be subjected to a charge
of about 5,0001. per annum—while, if they continued it
open, there was only 7,3001. earned upon it. Of that
sum the Eastern Counties Company charged 6,000/. for
working, and declined to hand them the balance, on the
ground that they had a further claim against them, so
ilea the debenture debt and other expenses still remained
against the company, without any profit to meet it.
Some other conversation baring ensued, in which it
was stated that the line had been closed in accordance
with a promise given to the proprietors at the last half-
yearly meeting, and that the whole of the directors were
willing to retire if it was the wish of the proprietors,
Mr. GRAHAM, as a large creditor, suggested that all
the cre 'isors should consent to a reduction of the inte-
rest on the debts to 3i per ceut., and then leave the
directors to do the best they could with the line.
Mr. JACZSON contended that under proper management
the line would produce much more than any estimates
that had been laid before them, :Is, there ',Avg no traffic
either by land or by water which could oppose them, •
they could take better tolls than any other line. Had he
had the working of the line, he should have gone to the
chairman of the Eastern Counties Company, and called
upon him to assist in developing the traffic by al eriug
the running of the trains, so that parties wishing to
travel on the line might be fairly accommodated at rea-
sonable hours. By the contract he had offered he could
have only made a profit by a co-operction with the
Eastern Counties Company, or some other petty com'ng
into the district, which he hoped mould be shortly the

e3Se.

On the question b,ing put to a vote, the amend-
ment was carried by a majority of about three to one.
Mr. MonTimErt, having been requested to join the
new direction, that gentleman said most distinctly he
would never join any board to carry out the policy of
Mr. Face, or enter into further negotiations with Mr.
Jackson.

The CHAIRMAN said, that though only a few of the
shareholders were present, the directors would decline
going to a poll; and they now only held office until
they had an opportunity of electing successors, to be
nominated by the proprietors.
After a vote of thanks to the Chairman for the im-
partial discharge of his duties in the chair, the meeting
separated.

CAMERON'S STEAM COAL AND SWANSEA.
AND LOUGHOR RAILWAY.
The annual meeting of this company was held yester-
day at the office, Moorgate-street ; Mr. Winthrop in
the chair.
The report stated that the directors had carried out
the resolutions of the proprietors, which were passed at
former meetings. The directors had succeeded in satis-
fying the pressing claims upon the company, and had
made arrangements for the construction of the railway
' from the colliery to a place of shipment, by which they
would obtain a cheap and expeditious transit for their
coals. The line was to cost about 5,000/., to meet which
they had called up the remaining 4/. per share in two in-
stalments. Arrangements have also been made with
several landowners and tenants on the line for the use of
the land required for the railway; and acontract had been
entered into on advantageous terms for the completion of
the works with a highly respectable contractor, who has
engaged to complete the railway early in October next.
The operations at the colliery are progressing also si-
multaneously with the works on the line ; so that the
directors may be fully prepared to meet the demand for
coal when the line shall have been opened. These ar-
rangements will enable the company to deliver 60,000
tons of coals per annum for a period of three or four
years, and by means of further operations, the coal
held being very extensive, will enable them to supply
1,000 tons per day if required. On the completion of
tie present
.works the directors will take immediate
steps to ship the coals, which are said to be eNcellent
for steam purposes. A large return from the mines must
entirely depend upon the hearty co-operation of the
shareholders in supplying the requisite funds. The
directors have incurred heavy responsibilities on the
faith of the shareholders paying up the calls and arrears,
and they hope that all strife and contention amongst the
proprietors will shortly cease. The directors regret that
the solicitor has again disappointed them by not pre-
senting his bill of costs. Tne report with regard to the
Swansea and Loughor Railway states that the powers
of the Act will expire in 1851, and that it may be neces-
sary next session to apply to Parliament for an extension
of time in consequence of the improvements at Swansea
harbour, and the advantages likely to result from a
connexion with the South Wales Railway and the port
of Swansea. The balance-sheet for the year ending
the 30th of June last showed that 152,57.5/. had
been received on shares; that 13,3271. was due to sundry
creditors; that 42,5824 was claimed by Mr. W. B. J. P.
Cameron on purchase account, several items of which
were disputed, making 208,485/. On the other side of
the account appeared cost of mining property 148,0001.,
works 16,8801., and cash 3801. leaving a balance of debit
of profit and loss 43,6351.
Mr. ELDATON, the solicitor, begged to apologise for
the delay which had occurred in preparing and deliver-
ing his bills of costs. He could assure them that it was
unavoidable. The period over which they extended
was five years, and they bad taken a long time to make
them out; the bill% were now nearly ready, and would
be delivered in the course of the day.
The CHAIRMAN said, he believed the balance-sheet
contained everything, with the exception of toe solidi-
ter's account, which they were all so anxious to receive.
It was particularly necessary that the shareholders
shculd give the directors their unanimous support to
get the company out of its difficulties and enable them
to make the undertaking- productive. The coat existed
in very large quantities, and they had only to provide a
cheap and rapid mode of transit and shipment to obtain
an immediate return. They bad already orders fur a
large quantity when they were in a position to supply
the demand.
Mr. GREEN did not consider the balance-sheet perfect
without the solicitor's bills of costs being included.
Mr. STRELLEY, one of the auditors, said, be had en-
deavoured as much as possible to induce the solicitor to
send in his bill, so that it may be included in the present
balance-sheet, but although he had promised to send in
his bill he had not done so.
Mr. ELDERTON said, it was his intention at the time
he promised to send in the bill, but circemstaaces had
rendered it impossible. With regard to the balance-
sheet, he did not think it included all the liabilieies.
Messrs. Cooper and Strelley (the auditors) and the
Secretary were perfectly satisfied that everything was
included, with the exception of the solicitor's bills of
costs, which they could not obtain.
The thaeraatate said, he had no doubt the meeting
would come to the conclusion that the balance-sheet was
so far correct, and concluded by moving, that the report
and accounts be received and adopted.
Mr. GREEN, in seconding the motion, said, that the
shareholders had every reason to be pleased with the
report.
The resolution was they put and carried unanimously,
when,
Mr. W. B. J. P. CAMERON said he dissented from
the resolution, and would required the votes to be
taken.
The CHAIRMAN said he was extremely sorry that Mr.
Cameron should have expressed his dissent, particularly
when it was considered how hard the directors worked
every day to get the company out of its difficulties, and
to make the undertaking productive. It was very clear
that Colonel Cameron and his family would participate
in the benefit of these exertions, and he was surprised
that Mr. Cameron should have expressed his dissent.—
(Shame.) If they were to permit him to vote in
respect of the shares he came to represent he would
swamp the votes of the meeting; but they bad a
protest against that gentleman's vote, which would
show he had no right to represent a single share of the
company.
The SECRETARY read the protest, which stated that
the shares in question bad been illegally transferred,
and the party who transferred them had no potter to do
so; that no money had been paid on them; that Mr. W.
B. J. P. Cameron bad no right to claim tem, and that
his interests were totally adverse to the interests of the
company.
The meeting having received the protest,
Mr. fMALLBONE said, there could be no doubt that
Mr. Cameron had no right to vote at the meeting, and
that the resolution was carried unanimously.
The retiring directors. Captain Norcott, RN., Cap-
tain Erle, and Mr. Barham are re-elected, as were toe
retiring auditors, Messrs. Cooper and Strelly.
On the motion of Captain NORCOTT, Mr. Green was
elected an auditor.
A conversation ensued, in the course of which it was
stated that the directors were not only anxious to place
the company in a good position, but to enable the Came-
ron family to get out of their difficulties, end there
could be no doubt that it was the interest of the vendor
and the shareholders to pull together and assist the di
rectors to render the undertaking profitable.
The proceedings concluded with a vote of thanks to
the chairman and directors for their indefatigable exer-
tions in promoting the interests of the company.

COURT CIRCULAR.
OSBORNE, MONDAY.

The Queen and Prince, accompanied by their
illustrious relatives, walked early this morning in Os-
borne Park and grounds.
Their Royal Highnesses the Prince of Wales,
the Princess Royal, and younger branches of the
Royal Family, took their accustomed walks and drives.
Her Royal Highness the Duchess of Gloucester
visited her Royal Highness the Duchess of Cambridge
and her Royal Highness the Hereditary Grand
Duchess of Mecklenburgh-Strelitz, yesterday, at
Cambridge House. The Prince of Oldenburgh paid
a visit to their Royal Highnesses on Sunday.
The Bishop of Montreal had an interview. with
Earl Grey yesterday at the Colonial•office.
Mr. B. Bond Cahbell had an interview with Sir
George Grey yesterday at the Home-office.
Dispatches were received yesterday at the Colonial-
office from the Governors of the North American
Provit c s.

IRELAND.
MAYO ELECTION.
DUBLIN, JULY 29.—At the close of the poll on Ea-
turday pveniug the numbers stood as follows:
Higgeos .•• ... ... 140
Butt ... ••• ••• • • ••• 94
Majority for Biggers 46
Thus the contest was virtually over, although the
polling booths would be kept open for this day (Monday).

A few days since a scorpion was found in a saw-
pit in Chatham Dockyard. It was taken out of a piece of
Italian oak, alive, and is of the species of a blackish colour,
described by naturalists as one whose sting causes edd mo
tiona of the limbs, and a laughter like that of fools. ,