The Sun.
London, England, 1844-09-11 00:00:00

LONDO N AND GREENWIC

It NIL WAY.
An adjourned Meeting and a Special General
Meeting of the Directors and Proprietors of the 11
don and Greenwich Railway, took place yesterday to
the London Tavern, for the purpose of taking in
consideration and determining the propriety of leasing
the
the Lo ,don and Greenwich Railway Company to
South-Eastern and Dover Railway Company.
Shortly after one o'clock, W. SIIADBOLT, ESTI took
the chair, and stated the objects of the meeting.
this time, among the Directors and Proprietors Pi:
sent, we noticed Mr. Alderman Hughes, Mr. D. ".
Harvey, Mr. Salomans, &c., &c.
Mr. D. W. HARVEY then proceeded to read tbit
report of the Committee that had been appointed iist
the last meeting, that was adjourned to the Pre°,
Ihty to consider on the propriety of leasing the lino,
The Committee had proceeded to ascertain the finere
cial circumstances of the Company, and they w,
gratified in stating that the assets of the ConiP1111:3
were adequate to ail its liabilities, and that a suri)
would be left to carry out every proposition
effect, and to pay the interest on themspecialty de ,
Now the result to which the Committee had eon
and the minute of terms arranged between the Dire;
tors of the London and Greenwich Railway CeillPe—f
and the Committee of Shareholders of that Cone,
and the Directors of the South-Eastern Rail°
Company, was this : vesil
" That a lease fur nine hundred and ninety-nine ibs
be granted by the Greenwich Railway Compaq 1"
South-Eastern Railway Company, of the Green
R'silway, and all the works and CO:iYt niences connector
therewith, at a rent of thirty-six thousand pounds iod
the first year, to be increased at the rate of one th°tl),s-0.
pounds per annum, until it shall reach forty-five tisol
sand pounds per annum ; such lease to include tbe.foto
on either side of the railway, varying from twen,tY,t,pU
and a half feet, more or less, to thirty feet, to blew"
tne land reserved for widening the Greenwich line., sad
" The lease is not to include the surplus lan%ni,
buildings thereon, belonging to the Greenwich C003y1701
bey and parcels of land on each side above reie.,o,
to, which excepted property is mentioned in the used
" With regard to such surplus or excepted len" ot
buildings, the South-Eastern Company are to be of
liberty to purchase the same, or any part of it, ;14 sios
time previous to 29th St ptember, 1845, either (i..ava
whole be taken) at the gross sum of twenty thew—
pounds, or if they should prefer it, or should take erre
only, then at a valuation, in the usual way, for the
or part.
" The engines, carriages, stores, and working
generally, to be taken at a valuation in the usual 0,11;45,
" The lease to commence from the Ist January, ;01
on which day the railway and works shall be delilr,
to the South-Eastern Company in good working 0111 e
" The rent to be payable quarterly, clear of
sill
and deductions, except property or income-tax. nth'
" The Greenwich Company to guarantee the .°() tbs
Eastern Company against all liability in respet t°
mortgage bonds and other debts of the Greenwich Co
o°l
pa" The above terms to be subject to the ratifinatt,o.
the Shareholders of the two Companies and to the b..-
tion of Parliament." t,
Now the probable result of this arrangemea„4
adopted by the meeting, would be, that the y..a
year's dividend would be 7s. 6d., and that it icnutoi
increase sd. every year until it reached the alemiliths
I Is. 9d., and a fund would also be left to meet ai
expenses of future management. COW
Mr. HrrcuENs felt much indebted to the bt
mitt:e for the trouble they had taken, but he the
the matter required further consideration no it,
clear that Parliament, in any application made fle
would not consider private, but public interests.
_`e
thought they ought to wait and see what the pro
Nest Kent line would do. .•,tieos

Mr. GUNTER thought some further nertie
ought to take place upon t
h the meeting
sect.
Mr. LEVY moved that should e°°cur
in the course proposed by the Committee. bate
Mr. SCRINGCOUIt believed that if a proper c usce
had been adopted, the Dover Company would Po
given them better terms. If that Company enleritie
its offer, they ought to accede to it at once. to
thought the meeting should be adjourned for 3'
night r so, to see if they would do so.
Mr. o
HAMILTON considered that the present
A be
pany was in the condition of a garrison that he-,ere
out well, and that the moment relief came they rt
is
going to surrender. Their terminus was the m
otetLondon, and though the terms offered by thIAY /VA
line might appear fair and reasonable, he u'floor
think them sufficient. He should, therefore/ re
i the
mend the meeting not to confirm the opinion °`..blic
Committee. It was against the interests of the Pu to
that the whole property should be thrown in ought
South-Eastern line. He thought the question ger,
to remain open for other Companies to make an Se
Dr. LEESON seconded the motion of Mr. Left to
thought the rising of the price of the shares 111
market was an evidence that the arrangement
ought
posed was a beneficial one. lie thought they °t'eet
to be careful that the Dover Company did 0°
disgusted with their arrangements. A t
op
present WoErrE thought they ought not to re.Tupon
present offer, for if they did, they might dePe,t,
it they would not get it offered again. %,"'"•ttee
not confirm what their Directors and the ''°"--1111
had done, they ought to lose everything.
Mr. APLAUREN saw no equivalent in the preseet
offer. the d
Mr. D. W. HARVEY said that it became t-e deol
consider that the only party they could properlYt th 3
with was a line in existence. He considered there of
objections that had been raised to the report 004
such a nature as ought not to be stated, becausessible
would endanger the arrangement. It was ign,P° fir
to suppose for a moment that, in the present a": bot
ment, the Greenwich Company had not got tuelintl
of the bargain. There could be no doubt theit,the
was going from bad to worse, and as a proof of f' to
might state, that although they had had one_:witho
finest summers they could possibly be blessed their
while their expenses exceeded 52,32819 there'
receipts had only been 55,33.51., the balance, too
fore, in favour of the Company was little Incsre IRO
3,0001., and something less than ls. 6d. a share'.oo hi
could they calculate on improving their conal.leoor
any other means than increasing the means 0 noel
munication ? The arrangement that VMS PrNhel
was the best that could result from any line.
_eh to
never would have, by any other means, so raiivoola
divide as under the present arrangement. Preceife
be found that by it the Shareholders would tithe
nearly 41- per cent. In conclusion, he 000 bests
Proprietors would not be led away from 3 Le jes.
which he believed was based upon right princ.nr offer
Mr. MONEY thought they ought to accept an
which they were not likely to have again. re had
Mr. MooRE considered that the Proprieto
_Des,
now an opportunity of making the concern 007;e0t.
lation, but a safe investment, upon which 4i Pe'
might be obtained.
on the Sr
ajor NUTT ccurred iri the adoption of
port of the Committee. thst
quests Spec 1
.
The CHAIRMAN was about to put the cneele-
the meeting do approve of the report of the
Committee, and agree therewith, when chilent'
Mr. G. W. BARNARD moved, as an alnenni.sat $
that the present was not a fitting time t° °-
lease of the Greenwich Railway.
Mr. SCRINGCGUR seconded the amendment; and the
Which, upon a show of hands, was lost?
original motion carried by a large majority.
The following resolutions were also agreed,tfertier
Ist. That the report of the Directors, i"
g
ith 6
with the accounts, be approved and mloPteut sod t°
exception of the calls relating to the Bright°W
the Croydon Railway Companies continuerespectivel
2d. That the Directors be authorised to ,sti
the agreement they have entered into wit them lt er
Eastern Railway Company, should they dee
pedient. 0 e°ll'
3d. That the Directors be authorised a15°,..„,,d0e
tinue the subsisting agreements with the `'"iletion
Railway Company as to tolls, until the 0°,0,011
of the arrangement with the South-Eastern De
should they deem it exedient." apeci6l
A vote of thanks was then agreed to, to the
Committee, for their labours. infse
he
The meeting was then made special, for ten snouted
of ratifying the arrangement that had been c
into with the South-Eastern Railway Corn Put tbet
Resolutions were proposed and agreed t° ge
purpose, and also for authorising the Director.% pro.
to Parliament for the purpose of perfecting t°
seeding.
Quid
mFe.nGd .thi!iArmsteErTvoanrrtstrtioisttnede
sthnentDh
recAolmr.
way Company.
The CHAIRMAN said they had already done 50' one,
The meeting, which was rather a stormy
broke up at a late hour, the general feeling rbeeo
thie
the
for Proprietorstneir appearingnr to brrehteh aptrtnch eetbztike:l4l
day virtually piAulWffieGt...........,.wigooevenwell
Company.
!Ere:5:11101,

DIED. the
On the 26th ult., at Ludlow, Shrorhire Frederic k+
second son of Dr. Thomas 'Willis, of Brighton', Sussel•
On the 3d inst., Mrs. Ross of Sloane-street. id 'f•
On the 6th inst., at Ryde,' John iteade, only son of •
Hoddius, Esq., of Irvern-court Hants. ri • 1/'
On the 6th inst.., at Grove ' e
Farm, Turnham-grel3' 3
Jessop, aged 74. liert°'
On the 7th inst., at Old-park Farm, Much Iladhara, , ser
Robert Elliott, Esq., late of the East India Company A
vice, aged 58. Tholnil°
On the 7th inst., at Loslev- park, Staffordshire, -
gr•
Sneyd K 3 nnersley, Esq., aged 71. hter
On the 7th inst., Kathleen JepllBoll, only daug
Jephson, aged 5 years. ,
----_—_-7-----------„ „,,,O .
o
Longo!): Print,,,i ami Publi3hed IN .:413;IDO -110
No. 112, Stnind, Printer, at Tile Sus 011'101,2'v' 0:11
Strand, in the Precinct of the Savoy, in the
BLiddleoex, Wednesday, September 11,1844.
of