The Sun.
London, England, 1850-09-05 00:00:00

to make his remarks in a spirit of ill-feeling or per-
sonality. He held in his hand returns of the com-
pany's income at different periods, as f urnished by the
secretary, and he forma that their averagi weekly
income from October last was 721. Now the liberal
system of advertising adopted by the board increased
this income, by he February following, to the weekly
average of 1121. In the month of March, when
their advertisements were materially reduced, the
average weekly income fell to 941. 13s. ; in April it
fell to 741. ss. ; in May, to 56/. ; and in June it had
dropped off to 421., being just one-third of the average
weekly income in the February previous. By that
time the directors became alarmed, and to check so
remarkable a falling off of revenue they resorted to
an extended system of advertising, by the end of June
In July the effect was that the income -rose to 611.
16.. per week, and during the first three weeks of
August last, for which they had the returns, it had
increased to 681. a week. They might depend upon
it that, by adopting a liberal system of advertising, in
February, 1851, they would not only realize the
weekly income of 1121. which they formerly derived,
but a much larger sum. A company like that ought
to be obtaining an income of 250/. a week at least,
The CHAIRMAN explained that the conduct of the
directors had been solely dictated by a desire to
economise the funds of the company, but finding by
experience that curtailing the advertisements did not
answer, they had gone back to their previous scale of
advertising the company. The chairman was then
about to enter into some p'rsonal matter, relating to
differences that had arisen between Mr. Stevens and
the directors ; when
Mr. CATTLEY thought that a discussion of such a
nature as the present ought to be avoided. The
shareholders had every confluence in the directors,
who, as good men of business, bad tried to economise,
but finding they were not successful they had altered
their policy.—(Hear, hear.)
The report and the statement of the accounts were
after-some further discussion unanimously agreed to.
Mr. Josien WansoN then proposed that the cordial
thanks of the shareholders are due, and are hereby
respectfully tendered to the board of directors for
their able management of the affairs of the company,
and also for their gratuitous services and devotion to
the interests of the proprietors. He hoped by the
next meeting they would be able to offer their direc-
tors a more substantial reward.
Mr. JAMES NESBITT seconded the motion, and in
doing so stated that, from the small experience he bad
in travelling, he felt astonished at the readiness with
which parties assured themselves at railway stations,
when it was only stated to them what they were
likely to receive from doing so. A case had cc-
curred to him of rather a singular nature. He was
upon one occasion in a railway carriage, and was men-
tioning to his fellow-traveller the benefit of the Rail-
way Passengers' Company, when every one of them
left the carriage and procured a ticket of the company,
securing them through the whole journey.
The motion was unanimously agreed to.
Mr. CATTLET thought the proprietors ought not to
separate without moving a vote of thanks to their ex-
cellent chairman. He considered that the share-
holders were greatly indebted to him for his gratui-
tous exertion., and be trusted that the time was not
far distant when those exertions would be, he would
not say amply, but at least in some measure rewarded.
The meeting bad already carried unanimously a vote
of thanks to their directors, and as the head of that
direr ion was their chairman, he thought they could
not do less than give a special vote of thanks to him
for the unvarying course he had pursued for the be-
nefit and interest of the company.
Mr. LEE STEVENS felt great pleasure in seconding
the motion. He had given great trouble to the
chairman in many respects, and as an act of justice
he felt bound to say, that of all the public companies
with which he had been connected he had never re
ceived from the chairman of any of them more kind-
ness and polite attention than he had done from the
present chairman.—(Hear, hear.)
The CHAIRMAN, in returning thanks, assured the
shareholders that the directors would, as they had
hitherto done, give their most patient attention to the
business of the company and the interest of the share-
holders, and all that he hoped was, that at the next
meeting tkey would have a far more satisfactory re-
turn to make ; but he begged of the proprietors to
feel assured that in making that statement he consi-
dered that the report and the statement of the ac-
counts that had been laid before them that day were
highly satisfactory—(Hear, hear)—and that ere long
the present company would be one of the most pros-
perous in the country .—(Hear, hear.)
The meeting then broke up.