The Sun.
London, England, 1850-12-04 00:00:00

LONDON AND BLACKWALL
RAILWAY.
A special general meeting of the proprietors of the
London and Blackwell Railway vas held yeAerday,
at the London Tavern, for the puryee of considering and
determining upon an application toParliament in the
eneuing, session, for power to mace a hoe from the
Blackwell Exteusion Railway to Tiibery Fort, opposite
Gravesend; Mr. J. N. Daniels, chairman of the board of
directors, in the chair.
The CHAIRMAN, in opening the business of the day,
reminded the meeting that the North Kent line had
seriously affected the traffic of the Blackwell Railway,
Rnd the line about to be suggested to the proprietors had
become absolutely necessary for the protection of their
property. A year or two ago the through traffic from
London to Gravesend, via the railway and boats, was
1,000,000 of passengers per annum. Last year
the number had dropped down to something
like 50,000, and the directors attributed the
falling off to the opening of the Kentish line.
The Gravesend traffic was estimated at 2,000,000 of
passengers per annum, and if this company succeeded
in obtaining this line, which had once been sanctioned by
the House of Commons as the Thames Haven Railway
and Dock, it would throw shout two-thirds of that
amount into their bands. The line could be made for
something like 10,0001. per mile, and when he told them
that they were to be guaranteed 6 per eent. fur twenty-
five years upon all their outlay, he thought the pro-
prietors would agree with him that the proposed ex-
tension would prove a most valuable undertaking.
The total estimate of the entire line was
250,0001., and for his part, when he looked at the
immense advantage the line was likely to confer upon
their main line, he had no hesitation in recommending
the proprietors to adopt it. O course the mode of
issuing the shares would be an after consideration, but
at present the plan suggested by the directors was that
they should be first offerel to the proprietors and then
to the public.
The following heads of a preliminary agreement be-
tween the company and the contractors were then
read:—

" Two eminent contractors, Messrs. S. Morton Peto
and Thomas Brassey, have proposed that, upon the terms
hereafter mentioned, the Blackwall Railway Company
should apply to Parliament for an Act to make a rail-
way commencing by a junction with the Blackwall Ex-
tension Railway near Bow-common-lane, and passing
thence through East and West Ham, Barking, Dagen-
ham, Raiaham, Grays, and Purfleet, to Tilbury, oppo-
site Gravesend, with a branch to join the Eastern
Counties Railway, near Ilford. Upon the Act being
obtained, Messrs. Peto and Brassey will, for the amount
of the estimate to be made, execute all the works neces-
sary for the railway, with stations and conveniences, and
pay for the purchase and compensation for the land re-
quired; and if the estimate is not sufficient, Messrs. Peto
and Brassey will pay the extra money required. Upon
completion of the works Messrs. Peto and Brassey will take
a lease of the line for twenty-five years, at a rental of
six pounds per cent. on the estimate to be made by
Messrs. Cubitt and Rendell. The net receipts, after
deducting working expenses, rent and maintenance, sa-
laries and charges, are to be equally divided between
the lessees and the Blackwell Railway. The Blackwall
Company are to receive for every passenger
conveyed to or from Tilbury over the Black-
wall Railway, or the Blackwall Extension, the
same fare as the receipts now average, and if the total
yearly receipts from such traffic, so calculated, when
added to the receipts of the Blackwall Company from
Gravesend traffic by the river, shall be less than the
receipts of the Blackwall Railway from Gravesend traffic
during the year 1850, Messrs. Peto and Brassey are from
time to time to make good the difference."
The CHAIRMAN then moved the following resolu-
tion :—" That this meeting approve of the extension from
the andon and Brackwall Railway to Tilbury, with a
branch to Ilford, upon the terms and under the gua-
rantees proposed; and that the directors be
authorized to raise the necessary
.capital by
the issue of new shares to be appropriated
exclusively to this work, and to take all other requisite
proceedings for accomplishing this object, with full
power to relinquish the Ilford branch, if deemed by
them expedient."
Mr. SPAcKMAN asked if the guarantee was uncon-
ditional on the capital which this company might ex-
pend on the line?
The CHAIRMAN replied in the affirmative.
Mr. SPACK.MAN was willing, under the circumstances,
to adopt the proposal, and he would therefore second the
resolution.
A PROPRIETOR asked who was to bear the preliminary
and Parliamentary expenditure?
The CHAIRMAN replied that in the event of the scheme
not being sanctioned by the Legislature, the contractors
would contribute 2,5001. towards the expenses. Should
the line be granted the contractors would pay all the
expenses.
Mr. TOZER wished to know if thero would be only the
personal security of the contractors.
The CHAIRMAN admitted that to be so, but it should
be remembered that the line, which would also be a se-
curity, would be in their own possession.
A PROPRIETOR asked when the interest would become
payable—as the calls were advanced, or only when the
line was made?
The CHAIRMAN replied—So soon as the line was made
the interest would begin to accrue.
Several proprietors suggested that the matter should
be delayed for a while till they had had an opportunity
of considering the agreement calmly; but
The CHAIRMAN reminded them that the matter would
have to be submitted to another meeting.
Mr. LEVY asked if the guarantee could not be well
secured what would be dune then?
The CHAIRMAN—We shall not go to Parliament in
that case.

Mr. LEVY—WeII, I don't think tho lino is worth a
• farthing; but with that guarantee I have no objc,ction to
convent to it.
After some further discussion, the resolution was put
and carried, and thanks having been voted to the Chair-
man and directors, the meeting terminated.

MARKET INTELLIGENCE.
(From the London New Price Current, Dec. 3.)
SUGAR.—Today there was rather more desire evinced
to operate in West India Sugar; merchants also dis-
played firmness, and the rates obtained were equal to
those of Friday for both grocery and refining kinds;
at auction 160 hhds Barbadues sold at full terms, good
yellow at 42s to 435, mid to good mid 40s to 41s 6d,
ord 393 6d, and one lot rather grainy 40s 6d. The total
purchases are 414 hhds, &c., and the market closes with
a firm aspect.
REFINED.—To-day the home trade demand was brisk
for Refined goods, and prices closed with firmness,
brown lumps at 49s to 493 6d. In Crushed Sugar there
is yet little doing, with free sellers at former rates.
MAIIRITIIIS.—This afternoon at public sale 4,983
bags Mauritius were disposed of at full rates. Fine
yellow realized 403 6d to 425, raid to good 383 6d to 40s,
low 37s to 37s 6d, good to fine brown 34s to 363 6d,
mid 33s to 33s 6d, and refining sorts from 36s to 40s.
EAST INDIA.—This afternoon the public sales of
Bengal Sugar went at rather lower rates, but nearly all
offered, amounting to 5,290 bags, found buyers; good and
fine grainy yellow went at 453 to 463 6d, white Benares
fine 45s 6d to 465, good 44s to 455, mid 42s 6d to 43s 6d,
mid and good like Mauritius 37s to 40s 6d, ord 34s to
36s 6d.
FOREIGN.—To-day there was no public sale of Foreign
Sugar, and by private treaty the amount of business
concluded was small, but holders declined to sell under
the rates of Friday; there are, however, some buyers at
a small decline.
COFFEE.—This afternoon there was a much better de-
mand for Coffbe from 'Lome dealers, and the parcels sold
by private treaty wereTather above former rates; at auc-
tion 422 bags of good ord Native Ceylon sold at 533, and
damaged at 50s 6d to 51s. Of Plantation 70 casks 33
bags were disposed of, low mid and mid at 59s to 635,
fine fine ord 56s to 58s 6d, other kinds 50s to 565, and
one lot good at 67s per cwt. The market for Coffee
closes with a firm appearance.
MOLAISEL—There is still little deiire to operate, yet
prices do not decline, only limited parcels having been
offered for sale, The value of low to tine West India is
from 15s to 17s, Porto Rico and Cuba 15s to 15s 6d,
Bengal and Mauritius 123 to 13s per cwt. Prices for
Jamaica Honey rule from 40s to 60s per cwt.
COCOA.—The previous advance is well supported for
Trinidad, although there is a more plentiful supply, but
the demand continues active. At auction 600 bags Tri-
nidad were all sold at 481 6d to 503 6d, and fine red
at 55s per cwt. Grenada is held with firmness, but
dealers are not much disposed to operate, and at auc-
tion 100 bags were taken in at 493 for fine. In Foreign
sales have been upon a small scale, but holders do not
appear disposed to sell at a reduction; Bahia and Para
are hold for 30s to 325, and Guayaquil 32s 6d to 33s 6d
per cwt.

TEA.—Operations in Congou have been upon a
limited scale during the last few days, and inferior sorts
are offered rather under previous rates, but better
qualities are held for the former value, with only a
limited quantity on offer. The rates current for ord
to good common are is (Sid to Is lid, medium
is 1:41d to is lid, good to flue is 3d to Is 8d per lb.
Pouctiong is held for llid to is 2d, but there are not
many buyers. In Canton Young Ilyson considerable
purchases have been made, chiefly on Liverpool ac-
count, and stiffer rates are paid. Other sorts of Green'
are not offered upon lower terms, but thero has not been
!ouch' desire on the part of dealers to operate. Of
Scer.ted and Pekoe Teas many parcels have been sold at
fa.:tercus,
SPICES—To-day at public sales 660 bags Penang
being above the value. White is id to id cheaper, but
at auction 336 bags 15 cases were nearly all sold, ord
and low 4Z-d to Ad, mid gd to bid, Tellicherry Sid to
9id,iand damaged 4id to 61c1 per lb. Of Cassia Lignea
105 boxes 156 half-boxes 15 bags were disposed of, pile 1
and 2 of mid quality at 104 s to 105 s, pile 3, 993 6d,
broken ends 965; mouldy 96s 6d to 993, and broken 92e6d.
SPlRlTS.—Leeward Island Rum is still much wanted,
and stiffer rates are paid, but few parcels are on offer,
and is Sd to Is 9d are the prices paid for proof. East
India is in good request at Is 6id to is 7d proof, and
supply is less than for some time past. Of
Demerara several parcels have been disposed
.of at 2s 4d to 23 9d for 30 to 40 per cent. over proof.
Holders of Jamaica have confidence, and at previous
terms a fair business has been concluded, but chiefly by
home dealers. The value of 30 to 36 per cent. over
proof of middling and good mid quality is 2s 10d
to 3s 2d, good 33 to 38 over 3s 3d to 3s 7d, fine,
- -35 8d to 4s, and superior 4s 2d to 4s 6d. Operations
~'iii,-Brandy hare been upon a large scale, and on the part
of holders thero is- confidence. Sales of Cognac best
._'.:brands of the Yintaga;c4 1846 made at 5s 10d to 6s, 1847
ss4d :1848 ditto 40 lid to 5s td, 1849
-...(-:ditio,4B 9d to 4s; llak: inferior sorts 3s' 2d to 4s Bd.
teneva in fair request, common is 9d:to 2s. The market '
made SpiAtwis, brisk it 9J Sd to 9. 9d, net
•••,."5, 1 :..sttOta it 6