The Sun.
London, England, 1844-02-10 00:00:00

In thus laying their views before the Proprietors, the
Directors feel satisfied that there is much in the present posi-
tion of the Company favourable to the further developement
of that prosperity which has hitherto distinguished the Lon-
don and Birmingham Railway ; and they declare their con-
viction, as stated at a former meeting, in August, 1841—
" That this ,object can in no way be more effectually pro-
moted than by a due and considerate regard to the accom-
modation of the public."
Acting on these views, they have given to all passengers
going and returning by the railway on the same day, the
benefit of a reduction of one-third in their fares; and they
allow passengers to compound for two mouths' fares at halt-
price.
They have also modified their rates to first-class passengers
riding in the Company's coaches, but travelling with their
own carriages on the train, by charging only second class
fares ; and as respects the comfort of the working classes, the
Directors provided coverings in the early part of the winter,
and protection from the weather for their third-class carriages.
The following Directors go out of office at the present
meeting, and are re-eligible :—Mr. Cropper, Mr. Glyn, Mr.
Rathbone, Mr. Tooke, and Mr. Young.
The dividend will be payable on the 15th instant, to the
Proprietors whose shares were registered ou the books of the
Company when closed, provided all calls on such shares are
paid.

The proportion of the dividendrwhich arises from the profit
on Sunday travelling, is at the rate of 4s. 9d. per 100/. of ca-
pital stock; and-10d. per new 32/. share.
The CHAIRMAN congratulated the Shareholders on
this, their first meeting in their new room, to have a
dividend of five per cent. on each share from the clear
profits.—(Cheers.) Formerly they used to allow ten
per cent., but that arose from premiums upon the sale of
shares, which the Company considered it prudent to
appropriate to the purpose. The Proprietors had the
accounts in their own hands, and would see that a part
of the advantages which they derived during the last
half-year were not only from an increase in the sources of
revenue, but also from the diminished expenditure. The
consolidation of the London establishment led also to
reductions in the expenses, and would enable them to
let the-buildings at Camden-town which had been origi-
nally intended for a terminus, The arrangments of the
station at Wolverton had likewise been such as to be
most advantageous to the Company. He had always
looked with extreme satisfaction to the expenditure
which had taken place at this station, because at that
spot a population had been collected from all parts of
England, and there were, consequently, no ties or asso-
ciations to bind them to the spot. They, were a most
orderly and well-conducted people, which was evidenced
by the fact that there was always a good attendance at
the church which had been built by the CoMpany at
that place. There had also been schools founded, in
which the children received a sound, moral, and religious
education. Benefit societies and lending libraries
were also founded, and had been well supported.—
(Cheers.) He invited the attention of the Proprietors
to the condition of the population at that station, when-
ever they went so far, and he was sure that they would
agree with him that the money had
-been well expended.
—(Hear, hear.) Even abstractedly from the benefit re-
sulting to the Company's servants from this expendi-
ture it was attended with a further beneficial resultito
the Company itself, by insuring greater safety to the
public, and consequently increased the number of persons
willing to travel by the railway.—(Hear, hear.) He
would now direct the attention of the Shareholders to
the number of railway lines which it was proposed to
construct during this session of Parliament, which he
trusted would not be equally memorable.. with another
from the reckless and chimerical projects which hadbeen
brought forward in consequence of the state of the
money, market at that period. He need not remind
them of the serious loss, and, in many cases, the total
ruin of many families, which was the consequence of
those mad speculations. He was happy to be able to
state that the London and Birmingham Railway Com-
pany did not in any way apply to Parliament, but they
were individually connected with two projects or un-
dertakings now before the House of Commons, the first
of which was the projected line from Lancaster to Car-
lisle, on which two years ago they entered into an
agreement, at the request of the other connecting Rail-
way Companies, that they would contribute a portion of
the capital required for completing the undertaking,
the traffic on the proposed line to merge into the line
from Rugby to London. That pledge they were now
called on to fulfil, and the Directors asked the Proprie-
tors that they should be allowed to subscribe to the
undertaking to the amount of 100,000/. ; and he thought
the traffic that would be brought into the line at Bir-
mingham by this undertaking, would afford a very fair
though not a very large dividend. The second under-
taking was one of infinitely greater importance. He al
luded to the proposed line of railway between Chester
and Holyhead, at which latter port the Company intend
constructing a harbour of refuge, not only for Channel
vessels, but also for the purposes of general trade ; and
in furtherance of this object the Government proposed
a certain sum, but had not as yet stated the amount.
However much or little the Government might advance
for the completion of this project, they should soon de-
clare their intentions ; otherwise private individuals
would be found to invest their capital in the speculation.
The Chairman next alluded at some length to the sub-
ject of local taxation, to which the line was subjected in
several other parishes through which it passed, and said
the meeting would perceive that the parish rates had
been raised from 15,314/., in 1840, to 18,351/., in 1843.
The Direction had upon this subject the assurance of
their legal advisers, that the present excessive rating of
the railway was at variance with the law ; but that, being
reluctant to enter upon a course of litigation with the
various parishes on the line, the Directors submitted to
the charge so long as it was stationary ; but the evil
had assumed so general and oppressive a character, that
they should most cordially support and co-operate in any
measures which might substitute a fair and uniform sys-
tem of rating for the present arbitrary and vexatious
proceedings of parochial authorities. All the Company
wanted was to be placed upon the same footing as other
establishments, and he trusted that measures would be
adopted by Parliament to effect this object, as the Com-
pany wished, above all things, to avoid any litigation.
A PROPRIETOR wished to know what amount of money
would be required to defray the expenses of the proposed
new line, as he understood that a sum of 2,100,000/.
would be required for the purpose ; and it was currently
reported, in many parts of Lancashire, that the Govern-
ment had refused to have anything to do with the un-
dertaking.
The CHAIRMAN denied that there was the slightest
foundation for any such rumour.
Mr. CAPEL begged to ask, when the branch line be-
tween Northampton and Peterborough, would be likely
19 be gm for frolic