The Sun.
London, England, 1868-01-01 00:00:00

--"'"
...NI •
-7-
3 t---
• • 'cv.f.' 7•L%4'
kir
. . Ql3l •An . 7A)
• I i'ag
. _
----; , ,40 •
A , •
.
f4i•
ii‘"l
, ,pv- - L4I
1.7
(1 I. . I
a
7‘ tIV
• 1
ec-t* . - cs.
,
, • r- 4.
Dizort.
1.117. r
•

PRICE. 4d.
sT A. 3: PE D sd.

per mile per week. Aliotier question be woo:

have to ascertain was as t ) the 1,00,000 expended
on stores and to how far it could be utilised and re-
duced in amotint for the benefit of the company.
Also, as to whether it would be better to ex' end the
station at llowrah, utai• Calcutta, or whether it
ould be better to bridge over the Hooghly and
form the terminal station in Calcutta. II! con-
tende I that no company c,lnld be conducted with
greater prop; iety than theirs. lie had received
letters feom Mr. 11. Hill, of Cannon-street, and
of her .proprie'o73 as to the management of the affairs
of the cnnpany, which could be easily answered,
because the board had directed its attention to every
point affecting the interests of the company. An-
other gentleman suggested a renewal fund for the
replacement of the line and works, but when he told
them that, on the average, 9f per cent. of the gross
receipts was expended in renewals and in keeping
everything in efficient order, there was no neces-
sity to set aside a further sum of money for the
b,:nefit of those who might come after them.
Some comparison had been made between their line
and the Great Indian Peninsula ; but the circum-
stances of the two lines were very different, their
East Indian line was made for all time, while many
of the works on the Great Indian Peninsula were

defective, and must be replaced. The East Indian,
as well as their Jubbulpore, line was a model rail-
way for solidity of construction, while the works
on the other line, he was sorry to say, were defec-
tive. Mr. Rendel would return to England in the
Interval between this and the annual meeting in
June next, when he trusted they would have before
them the full extent of the requirements they would
have to consider and provide for. They might de-
pend on the directors not incurring any fresh expen-
diture of capital without being first sanctioned by
the proprietors. (Cheers.) •
Sir F. HALLIDAY seconded the motion for the
adoption of the report.
Mr. F. WILSON strongly objected to any further
expenditure of capital, and said that the statement
by the chairman showed that his former opposition
in that respect had been successful. If the people
of Calcutta wanted a bridge over the Hooghly, let
them make it.

Mr. J. JONES complained that the goods traffic
on the first 100 miles out of Calcutta was very small,
and said that it was very wrong of the directors to

purchase engines of foreign makers when they could
get superior engines from makers in England at a

fair price.
The CHAIRMAN explained that at a time when the
company wanted 225 locomotive engines they ad-
vertised and obtained 20 at Stuttgart, 10 at Zurich,
making 30 foreign engines, by which means they
succeeded in obtaining the remaining engines they
required at from £2,400 to £2,500 each, instead of
having to pay £2,800 to £2,080, which was de-
manded of them previously.
After some observations by Mr. Hill and Mr.
Franklin, the report and statement of accounts were
unanimously adopted ; and dividends at the rate of
53. per cent. for the half year in addition to the
guaranteed interest was declared on the stock and
shares of the company, free of income tax. .
The proceedings concluded with a vote of thanks
to the chairman and directors.