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

_
LO►NDO N AND GREENWICO

RAILWAY.
An adjourned Meeting and a Special GOO!
Meeting of the Directors and Proprietors of the
don and Greenwich Railway, took place yesterdi&
the London Tavern, for the purpose of taking T,';
consideration and determining the propriety of leall
the London and Greenwich Railway Company to
South-Eastern and Dover Railway Company. k
Shortly after one o'clock, W. SHAIJBOLT, ES4:II
the chair, and stated the objects of the meeting•
this time, among the Directors and Proprietors Pi.
i.
sent, we noticed Mr. Alderman Hughes, Mr. D.
Harvey, Mr. Salomans, &c., &c.
Mr. D. W. HARVEY then proceeded to read
et
•
report of the Committee that had been appointed at
the last meeting, that was adjourned to the pls.,*
d}ty to consider on the propriety of leasing the
The Committee had proceeded to ascertain the firive;l
cial circumstances of the Company, and they w
gratified in steting that the assets of the Con
were adequate to all its liabilities, and that a sure op
would he left to carry cut every proposition 10
effect, and to pay the interest on their specialty de%
Now the result to which the Committee had coal
and the minute of terms arranged between the Derr}`
tors of the London and Greenwich Railway Con'lPslf
and the CoiniilitAe of -.iliarehulders of that Couno',
and the Directors or the South-Eastern Railim
Company, was this :
a lease for it:lndred and ninety-nine 31
be granted by the Greenwich Railway Company Woe)
South-Eastern Rai! nay Company, of the Green'
moped
Railway, and all the works and conveniences cotta fie
therewith, at a rent of thiriv-six thousand pounds
lad
the first year, to be increased t the rate of one thotlbsor
pouads pef annum, until it shall reach forty-five tol
,and pounis per annum ; such lease to include tlie,or
on either stile of the railway, varying from twenty.' 1".11
and a half feet, more or less, to thirty feet, to include
the land reserved for widening the Greenwich line.
id
The lease is not to include the surplus land f,
buildings thereon. belonging to the Greenwich C0n314,',{
beyond the pare Is of Lind on each side above refer
to, which excepted property is mentioned in the tneirgoil
" With egsrii t., .oeit surplus or excepted lane '0
buildings, thi, Sou th-Eas lei n Company are to be oi
liberty to purchase the same, or any part of it, 81ity
time previous to 29th September, 1845, either (i 1
wholu be taken) at the gross sum of twenty that'f";
pounds, or if they should prefer it, or should take a
only, then at a valuation, in the usual way, for the viP
or part. I Iss
" The engines, carriages, stores, and working P
generally, to be taken at a valuation in the usual waii4s,
" The lease to commence from the Ist January, I red
on which day the railway and works shall be defive,.
to the South-Eastern Company in good working orde;el
" The rent to be payable quarterly, clear of an to
and deductions, except property or income-tax. oth,
" The Greenwich Company to guarantee the °(' tbe
Eastern Company against all liability in respect t&pr
mortgage bonds and other debts of the Greenwich
patty. of
" The above terms to be subject to the ratificati
the Shareholders of the two Companies and to the o"
tion of Parliament." if
Now the probable result of this arrangemett4
adopted by the meeting, would be, that the tilj
year's dividend would be 7s. 6d., and that it We.'
increase sd. every year until it reached the araourp iy
I ls. 9d., and a fund would also be left to meet all •
expenses of future management.
Mr. litercnE:ss felt much indebted to the -
mittee for the trouble they had taken, but he thlsi
7he matter required further consideration. it, is
_fear that Parli,iinent, in any application made Ow
,sould not consider private, but public interests.
5`;4
thought they ought to wait and see what the prO°
West Kent line would do.
••Mr. GUNTER thought •
some further negotiati°lls
ought to take place upon the subject.
Mr. LEVY moved that the meeting should concur
in the course proposed by the Committee.
Mr. SCRINGCOUR believed that if a proper cours°
had been adopted, the Dover Company would Ildej
given them better terms. If that Company amen lie.
its offer, they ought to accede to it at once. ,ort,
thought the meeting should be adjourned for al
night or so, to see if they would do so.
Mr. HAMILTON considered that the presents f.rfild
pany was in the condition of a garrison that habete
out well, and that the moment relief came they vvtlp
going to surrender. Their terminus was the besot
London, and though the terms offered by the not
line might appear fair and reasonable, he di.l
think them sufficient. He should, therefore, reesti;e
mend the meeting not to confirm the opinion of bijo
Committee. It was against the interests of the 13° the
that the whole property should be thrown into 41
South-Eastern line. He thought the question oler,
to remain open for other Companies to make sn °
Dr. LEESON seconded the motion of Mr. Levy' the
thought the rising of the price of the shares 111,.,,.
market was an evidence that the arrangement Pilt
posed was a beneficial one. He thought they 00,01
to be careful that the Dover Company did col
disgusted with their arrangements.
Mr. WoLFFE thought they ought not to reject till:
present Mier, for if they did, they might depend nrio
it they would not get it offered again. If they, tee
not confirm what their Directors and the Commit
had done, they ought to lose everything.
present
Mr. M`LaustEN saw no equivalent in the Pre
offer. to
Mr. D. W. HARVEY said that it became the deal
consider that the only party they could properly the
with was a line in existence. He considered that d
objections that had been raised to the rep t
ort were
such a nature as ought not to be stated, because ibio
would endanger the arrangement. It was imPoesd.
to suppose for a moment that, in the present armlet
ment, the Greenwich Company had not got the line
of the bargain. There could be no doubt their, he
was going from bad to worse, and as a proof of ,lythe
might state, that although they had had one 0' its,
finest summers they could possibly be blessed wheft
while their expenses exceeded 52,328/.1 ,ere,
receipts had only been 55,3351., the balance, t", 40
fore, in favour of the Company was little more,7oo
3,0001., and something less than ls. 6d. a share. 'hi
could they calculate on improving their conditiono,
any other means than increasing the means of Liet
munication ? The arrangement that was Pr°yhef
was the best that could result from any line. 4, to
never would have, by any other means, so rau-„„0
divide as under the present arrangement. It 'l'o
be found that by it the Shareholders would re the
nearly sli per cent. In conclusion, he trusted
Proprietors would not be led away from a eciey,
which he believed was based upon right princiP
°fret
Mr. MONEY thought they ought to accept 3°
which they were not likely to have :wain. bad
Mr. MOORE considered that the hProprietors,o4
now an opportunity of making the concern no sP:;O4
lation, but a safe investment, upon which 4f per ',-
might be obtained.
Major NUTT concurred in the adoption of the Se
port of the Committee. at
The CHAIRMAN was about to put the question
the meeting do approve of the report of the SP'
Committee, and agree therewith, when ent'
Mr. G. W. BARNARD moved, as an amerl'aA l.„" t
that the present was not a fitting time to W.--
lease of the Greenwich Railway.
Mr. SCRINGCOUR seconded the amendment; A the
Which, upon a show of hands, was lost, an
u
original motion carried by a large majority.
The following resolutions were also agreed t°• reef
Ist. That the report of the Directors, trfeb he
the accounts, be approved and adopted, Nilt A to
exception of the calls relating to the Brighton 011"
the Croydon Railway Companies respectively. tune
2d. That the Directors be authorised to conib.
the agreement they have entered into with the S°l/
it e
Eastern Railway Company, should they deem
pedient.
Con'
3d. That the Directors be authorised also todoo
tinue the subsisting agreements with the CrolYtiop
Railway Company as to tolls, until the conle,eop
of the arrangement with the South-Eastern Rs"'
should they deem it expedient." 401
A voti )f thanks 5p-

;e of thanks was then agreed to, to top
Committee, for their labours. pos°
The meeting was then made special, for the pu'rred
of ratifying the arrangement that had been Ote
into with the South-Eastern Railway Compani• that
Resolutions were proposed and agreed to for so
purpose, and also for authorising the Directors te:10,
to Parliament for the purpose of perfecting the P
ceeding. old
Mr. F. G. HAMILTON trusted the Directors W°

recommend their servants to the South-Eastern 1'
way Company.
The CHAIRMAN said they had already done 50' one'
The meeting, which was rather a stormy ong
broke up at a late hour, the general feeling 3,n3beeft
the Proprietors appearing to be that the best had this
done for their interests. The proceedings.,_.lo'. wog
day virtually put an end to the Greenwich -ma'
Company.

BIRTHS. scP,
On the Bth inst., at Streatham, the lady of B. Drew'
of a daughter.
On the 9th inst., in Manchester-square, the lady of iler'rl
Pearse, Esq., of a daughter. 17101.
On the 9th inst., in Wimpole-street, the lady of Dr.
dinning, of a daughter.

! DI
On the 26th ult., at LudE
low,D. Shropshire, Frederick, the
second son of Dr. Thomas Willis, of Brighton, Sussex.
On the 3d inst., Mrs. Ross, of Sloane-street. 111• T•On the 6th inst., at Ryde, John Reade, only son of - •
Hoddins, Esq., of Frycrn-court, Hants. xi,. .1.
On the 6th inst., at Grove Farm, Turnham-greell, *--•
Jessop, aged 74. iferts,
On the 7th inst., at Old-park Farm, Much Hadhani,nser.
Robert Elliott, Esq., late of the East India ComparrY'3
vice, aged 58.
inst., rrhoullo •
On the 7th at Loxley-park, Staffordshire, '—
Snevd Kynnerslev, Esq., aged 71. f gr.
On the 7th inst., Kathleen Jephson, only daughter 0
Jephson, aged 5 years.
____-------'7's

G,og
i.rinteu ant: ruolistied by of jlg;
No. 112,. Strand, Printer, at The Sun of
Strand,in the Precinct of the Savoy, in the vu w'''
Middlesex) Weduesclsy, September 11, 1844.