The Sun.
London, England, 1845-09-03 00:00:00

GREAT NORTHERN OF FRANCE.

Yesterday the first general meeting of the I,roprietors of this
(Resamel',) Company, whose line is to run from Paris to the
trnutier of Belgium. with branches to Calais and Dunkirk, was
held at the London Tavern, ltishspsgate•street. Mr. J. D.
Powles, director of the Newcastle and Carlisle Railway, in the
chair. The other directors present were Mr. lihn Catley,
Mr. Archibald Paull, director of the London and York ; Mr.
George Pollard, chairman of the West Yorkshire Railway ;
Mr. Jahn Rawson, Halifax ; Mr. J. Hopkinson, Mr. Joseph
E.sdaile, and Mr. John Frith. There was a numerous attend-
ance shareholders.

'f he CHAIRMAN addressed the meeting on the position of
affairs. The directors had had the line surveyed by com-
petent engirer,rs, with the intention of making a tender to
the Government, but the f. eling m France was so strung in
favour of an amalgamation with other lines, that they at once
gave up the idea. The feeling of the Government was also
strongly in favour of amalgamation, and the public
M nister gave it as the opinion of the Government that they
w"re decidedly anxious for the amalgamation of all the great
companies in France, to take the railways into the it
own hands, as they had foreseen the possibility of their
tailing into the hands of parties who could not efficiently carry
them out; persons who, when it became necessary to make
payments to work them out, would be unable to do so. The
Government felt the probability of a financial crisis arriving in
France in connexion with this species of property, and urged
upon the companies generally the propriety of amalgamating,
as likely to be beneficial to the companies themselves, and give
greater security to the public. The terms upon which these
contracts were to be made were a lease of forty-one years and
a few days, so that the Government of France could not be in-
jured by the principle of amalgamation. The French press
questioned whether these amalgamations would be legal; bat
'here was no law to prevent amalgamations. The result was,
that six companies connected with Fiance had amalgamated,
arid the portion of shares allotted to the Great Northern was
41,01,0, of which 20,500 would be retained by the French
Committee, and an equal number allotted for distribution
amongst the English proprietors, at 21. per share. It was
determined by the Directors that the payment to be made
should be 51. per share on those which were now to be allo-
cated. This could not operate injuriously to the shareholders,
because they would have the less to pay upon the whole num-
ber of shares. or if they were to sell in the market they would
get the price to which such a payment would entitle them. On
the tith of September the proportion of the English division
of the capital would be paid in►o the hands of the Government,
and notice would then be given to the shareholders when they
were to receive their proportion of the shares to be allotted
them, and the balance due on account of the money they had
already paid on their shares. The proportion of shares would
be in the degree of 20,500 to 150,000. There would be an odd
balance of 500 shares. When they received the shares from
France, notice would be given to the shareholders, and the
balance would be returned without expense.
Mr. WALLER, after adverting to the successful termination
of the Directors' negotiations with the French Government,
proposed a resolution, which was seconded and passed
unanimously, that the 500 surplus shares be left at the dis-
posal of the provisional committee for their services, and the
meeting separated