The Sun.
London, England, 1845-09-10 00:00:00

REPORT.

The receipts on your railway, between London and Croydon,
have increase,' about 57 per cent. upon those of the corre-
sponding half year, and the tolls about 8 per cent. upon those
of ►he same period. The expenditure has, however, also been
greater, particularly in the locomotive department, in conse-
quence chiefly, of the discontinuance of the joint working of
the ►hree eempv'ies.
The Proprietors are aware that in the autumn of last year
the Sou•h-Eastern Company announced their intention of pro-
moting new lines in Kent, which would have the effect of di-
vertinVhe traffic of that Company from the Croydon Railway.
The Sluth-Eastern Directors haring likewise 'repudiated an
agreement entered into with this Company, with a view to the
protection of its interests, your Directors had no alternative but
to submit to Parliament, under your sanction, in the last ses-
sion, those schemes in connexion with the Croydon Railway
which led to the late severe coatest. .

With respect to your Parliamentary proceedings, although
not attended with immediate success, your Directors are pleased
to. observe that your situation has been improved by
the results of the session. You have succeeded in defeat-
ing the various schemes promoted by -other partLs
which were opposed to your interests, namely—the
Wandsworth and Epsom branches of the Brighton and South-
Western Companies, and the Reigate and Dorking branch of
the lot mer Company. The main schemes of the South-
Eastern Company were, as you know, thrown out on standing
on'ers. One portion of your plan, that for the accommodation
of North Kent, was reported against in common with the scheme
of the North Kent Company—the other, for extending accom-
modation to the southeastern parts of Kent, including the
only direct line to Maidstone proposed in Parliament, failed
from the inability of the Committee to consider it 3 merits, at
the then late period of the session. The Croydon Enlarge-
ment Bill alone has received the royal assent.
Under these circumstances your Directors have felt it to be
their duty, in compliance with the terms of the resolution
passed at the late general meeting, to limit the sum to be
raised upon the new shares to 1/. 13s. 4d. per share as therein
stipulated ; and they have accordingly made a final call of 11.
per share, and provided for the registration of eight of these
shores for one Croydon share of 20/., likewise in accordance
with the terms of the resolution.

The Bill for a line from Epsom to Portsmouth, in which you
are so much interested, after a most searching investigation for
six weeks before a Committee of the House of Commons, and
a unanimous report in its favour, by a Committee of the House
of Lords, was, on that report being brought up to the House,
recommitted on a point of form, by a majority of two, which
the presence of two Noble Lords, Members of the Com-
mittee, who were unfortunately absent, would have prevented;
and this recommittal, at the extreme end of the session, has
had the effect of a postponement to another year. The Bill,
however, is understood to be entitled to all the privileges in
such cases provided by the regulations of last session, and the
Directors trust that very shortly after the opening of the next
session it will have passed into a law. There never was, per-
haps, a measure which relied so entirely upon its own merits
fur defence against the extraordinary and various kinds of oppo-
s'tion to which it has been subjected.
It is the intention of the Directors forthwith to distribute to
the Proprietors the shares in this undertaking held by the
Croydon Company.
Your Directors congratulate you upon the successful demon-

stration of the atmospheric system on your line. This demon-
stration has been delayed much beyond the time which
was anticipated, and the delay has been ocemioned
by the novelty of the apparatus, the desire to effect
all possible improvements, and the adaptation of these
improvements to your peculiar position. The result, however,
so far as it has gone, has been highly satisfactory, and the ex•
periments which have been already tried upon its power and
tractability, have surpassed the expectations of your Directors,
although they had previously formed a high estimate of the
system, from what they had
_witnessed upon the Dalkey line,
where it has been so long in operation.
Your Directors anticipate that this success will entitle you to
a preference, before Parliament, in respect of any schemes
which they may find it desirable to promote for your benefit,
provided those schemes are likewise well arranged for the
public advantage. Of such a character they trust are the
Kentish schemes, as now projected, which are in their
opinion so devised as to afford the greatest possible
public accommodation, at the least possible cost. Your
Directors have found it necessary, with a view to the success
of these mca.mrc.3 entirely to remodel the lines and reconititute
the plan upon which they were promoted in the last session of
Parliament, and in order to give the strongest assurance to the
county that they shall be int ependently carried out, to divest
them to a certain extent of their dependance upon the Croydon
Company. They propose, therefore, to raise a separate fund for
the execution of these schemes, which shall be distinct from the
funds of the Croydon Company—but the share of which shall be
distributed in the largest proportion among the Proprietors of
that Company, as some compensation for the pre-emption to
which they have entitled themselves by the outlay already in-
curred, and the efforts made in the prosecution of this object.
A Provisional Committee, composed of some of the chief land-
owners in the county, will be appointed to act for the conduct
of the 13111, in conjunction with your Directors.
The works on the Epsom line are in active progress, the
whole is under contract, and will, as your Directors trust, be
ready to open in the course of next summer.
Your Directors observe that several schemes have been
lately proposed for affording a west-end terminus to the lines
converging at London-bridge, and with the promoters of one
of these lines they have taken measures to place themselves in
communication. Various other schemes, more or less calcu-
lated to benefit the railway, have been likewise pressed upon
the attention of your Directors, but none of them are as yet in
a sufficiently forward state to be more publicly noticed.
The Profit and Loss Account shows a balance of 15,768/.
ss. 10d., out of which your Directors recommend a dividend of
seven shillings per share to be made on 44,400 shares.

The CUAIRMAN then moved that the report be re-
calved and adopted ; in doing which he stated he would,
according to usual custom, make a few remarks. Ile
congratulated them on the improved aspect of the Com-
pany's affairs, the receipts for the present half-year
being fifty-seven per cent. greater than the cor-
responding period of last year, and the tolls eight
per cent. more. The expenses, had, however, been also
higher. The dividend proposed, though still small,
was an improvement, and he had no doubt it would go
on progressing till ultimately it would be a full remune-
ration for the capital invested. The dividend was an in-
crease of 40
per cent. on that of last year.—(Applause.)
He would now glance at the business of the bygone year
in regard to their proceedings in Parliament. He re-
gretted they had not been so successful as he could have
wished, still it was a consolation neither had been their
opponents. Upon the whole he did not think they had
suffered in their position by the contest, the most of
the schemes by which they had been threatened
having been defeated, thrown out in Committee, or aban-
doned. It behoved them, however, to look actively to
the future, as some of the unsuccessful schemes of last
session were being brought before the public in a
modified form. He alluded to the North pr,(ject,
and that supported by the Eastern Counties Com-
pany. The Hon. Gentleman having referred to the
report, showing the necessity of the measure as a means
of raising capital to carry out their extension, so as to
defeat their opponents, went into the progress of the at-
mospheric principle, in connexion with their line. Every
step, so far as they had gone, was entirely satisfactory.
Several private experiments had been made, but as the
engine•power was not as yet under full command, they
had not ventured on a public exhibition. Whenever
all was perfected it was the intention of the
Directors to invite the Shareholders to the first
public experiment on the line. As many Share-
holders, however, present, perhaps, would not be
able to attend then, a special train had been provided to
run along the line immediately on the termination of
their proceedings. He was quite persuaded that the
atmospheric principle, when in full operation, would
enable them materially to reduce their charges to
the public, while it would prove highly profitable
to the proprietors. Mr. Samuda, the engineer, had
furnished them with a report of his proceedings, which
he would read. The Hon. Chairman then read tie..
report which was to the effect that the works had pro-
gressed in the most satisfactory manner. and were now
nearly completed, and that the recent experiments had
been completly successfu!. Having dwelt at some length
on the superiority of the atmospheric principle
over the one in ordinary use, and at the opposition and
, bigotry with which it had been met, the Hon. Chair-
man concluded his address by pointing out on a large
map the proposed extensions, being one to Gravesend
and another connecting Maidstone, Dover, and Canter-
bury with London—both to be on the atmospheric
system. _ _

A PROPRIETOR asked what was the capital proposed
for the new lines in Kent ?
The CHAIRMAN-2,500,0001.
A SHAREHOLDER asked if there was sufficient capital
in hand to carry out the proposed extensions ?
The CHAIRMAN answered in the affirmative.
To questions from Proprietors,
The CHAIRMAN said that he could not positively affirm
when the Epsom line would be open, and he did not wish
to give any pledge en the subject; neither could he say when
the atmospheric line would be opened, but no time would
be lost by the Directors. The prospectus of the new
Kent line would be shortly issued, and he could not say
before that time in what proportion shares might be ap-
portioned to the Croydon Proprietors.
The report was then adopted.
Mr. 111`LAURIN moved a resolution that the accounts
of the Company should be made out on the system pur-
sued in 1841 instead of as at present.
The resolution was negatived by an immense ma-
jority. i
Several other resolutions in accordance with the re-
port were then carried, and after a vote of thanks to the
Chairman, the meeting broke up.

HEROIC CONDUCT ON A RAILWAY.—Last Thursday
one of the must providential escapes, as regards human life, occurred
on the railway connected with the Bishopwearmouth iron works.
The iron works in question extend over a vast extent of country,
and, for the purpose of a speedy transit from one part to the other,
railways have been established, one of which is formed on an in-
clined plane, down which the heavily laden waggons are propelled
at a fearful rate. On the morning of the above day, while one
of the trains of waggons was passing down, two very old women,
each being nearly seventy years of age, labouring under de-
fective sight sight as well as hearing, got on the line. A few
seconds more they both must have inevitably been crushed to
death. Their perilous situation was, however, witnessed by Mr.
David Holsgrove, the overlooker of the works, who in an instant
dashed forward and seized the two females, whom he threw off' the
line, ani out of the way of danger. Unfortunately the engine at
this instant came up, which knocked Mr. Holsgrove down, and he
was picked up as dead. He was instantly conveyed to one of the
buildings in the vicinity, and medical aid was sent for, when, upon
examination, it was discovered that he had sustained several con-
tusions about the head, that both his arms were broken in two
places, and also one of his legs, besides other injuries about the
body. It is wipposed that some part of the train must have gone
over the limbs. Although so severely and dangerously injured,
hopes are entertained of Ills recovery. The two females escaped
without the slightest injury.

WINCHILSEA AND WATSON.—The following com-
munication from the Lord Chancellor has been received by Lord
ihWnetl,tod:
syroi,ezeradrlctisolLriit d
at hisonlehga vt
hel eetdtcei
directed
tmnen:sosaui
commission
announcing
rttshhe that. he
alh,seeat
:lei
la, dcw.prielriseciihg,
at resigned
npel:tsiles of Kent, Northampton, and Lincoln :
agreeably to your wish, I very much regret that you have taken
this step. I have forwarced your letter. to Sir Robert .Poe!.
I remalit, my dear Lord, very faithfcily yours,
Turville, Sept. 4, MO. ` LYNDHliai.a."