The Sun.
London, England, 1845-02-07 00:00:00

.. •
LONDON AM) COUNTS; JOINT-
STOCK BANK.
The Directors and Shareholders of this establish-
item t.eld their usual half-yeariv meeting at their
°%'e, 7, Lombird-street, vesV:rda v.
. The SECRT.:TARY read the advertisernen' c riven
tag the meeting, aced the Directors' report, of which
the.following is the substance
Your Directors have again much pleasure in laying
ue,r hale-3early report before the Proprietors.
the Your Direciors are happy to report that the business of
e Dank t •- ld to increase, and they
reet,_ •lattpro‘e
of, the reiyment of the usual dividend, at the rate
per c,
per annum on the capital steel: of the
"'"'t)4nY he half-year ending Due. 31, 1844.
Iti'"l'Le Proprietors Hill recellect, that at the last
„eet.ing the Directors reported they had, by a second
,•fdict, mairtaincd their right to hild the scrip of the
4`;lal Mail Packet Company, which had been lodged
with them fir a tvi.me, bona fide made to Messrs. C, Ils,
the brokt rs of Messrs. Acraman, of Bristol.
_ Afer alluding to the law proceedings (the trial
against the assignees of Alesrs..Acrarnan) thz! report
1/t'ted "that the present head office could not afford the
e ummodation required by the great increase of the
rn?lnPanY's business, and that they had obtained the
tc'te extensive premises, 21, Lombard-street, to which
"e,Y-intend to rem,ive during the ensuing month."
in Ile-CuAIRMAN then proceeded to address the meet-
c.onsiderable length. He congra ulated the
tk',.enolders on the prosperous state of the affairs of
e hank for the past hale-year, which he said had
hg
(4. °llly been very satisfactory, but far exceeded the
kinsanguine expectations of the Directors. lie then
Ist
to the state of the branch banks, which said _
tee
alts
e ir
equally satisfactory and profitable in th
10111, L's• With regard to the legal proceedings in
14iie" the Company were likely to be involved, he
tab this was the third time they Would he compelled to
it;e their position as defendants, in order to submit to a
41 merchants the question as to whether they
lie a right to dispose of scrip of Which they had
b,,eQrne the holders. lie next read the balance-sheet,
pra which it appeared that a large sum was to he
tspled to the credit of the Company. Havinglittlf,:ien at considerable length, and congratu-
N-,7 the Shareholdet s upon bring the pro-
teriis°rs„ of so prosperous and profitable a con-
he next answered several questions that
deta: Put to him by some Proprietors upon matters of
t .11, and the replies appeared to give general satis-
,lo,o4.
thllle meeting unanimously adopted the balance-
and'llre-elected the out-going members of the Board
eff. anrlitors, and having passed a resolution to the
4:et that the Directors be paid 1,5001., to be divided
11,11(ltagt them as remuneration for their services, the
' votes of thanks were passed, and the meeting
Dmed.

1.eiv.1.1-1,
0N AND BRIGHTON RAIL-
of
thYest,erday WAY COMPANY.
afternoon the half-yearly general meeting
th'eLorldon and Brighton way Company was held
kai seendon-bridge Terminus. C'aptain B. M.
sti" 'Chairman of the Board of Directors, presiding
CHAIRMAN, in introducing the immediate busi-f
.tatit tif the meeting, said he hoped the increase;
mo.
144 in the last half-year, '.hawn thereiporte,aarslcBl3,
.troul_,%ith the corresponding period of
.t the u fully manifest the unremitted exertions ehich. the
CiZtors had displayed in promoting the interests of the
ti;Pat)Y. The very small increase of a half per cent.
hmte narking expenses, by which the same increase
he realiSed, would evince the vigilance with which
tali w4rehed over the expenditure. The increase in the
tf2c)! locomotive carriages, &c., amounted to the sum
the 3,"Qt, which left the small sum of 4501. to cover
ts?P ses occasioned by an increase of traffic am, unting
4114'kt Ile had further satisfaction in telling them
AN this Progressive increase was still going on, the first
atp",_.eeks of the present half-year showing an increase
tilri4ae last of ten per cent. While they had been par-
thti;aLin this benefit the public had not been without
spas saare of advantage. The increase in the number
ttiptsst'agers had attained 21 per cent., while the re-
!hee„, for the same had only amounted to 14,
toti°l, to the reduction which had been made
fares. The Board of Trade having given
I,llte•ny4,°f their intention to report to Parliament against
°het-L. the branches pt. ejected by the Company, the•th
%%C4,3 deemed it injurious to proceed further
11qt of 'o notice, however, had been taken in the re-
-4114 the branch from the Three Bridges to Horsham,
athsi'll order that no advantage might be taken by the '
Ithe4t he°lllPeling Companies, the Directors were desirous
rts-eY should be armed with the powers set forth in
labrsiP,ort, and a resolution for this purpose would be
l'ali•Leal to the raeetlnee The last and most pleasing
ker.' °Pon Which he had to touch was the dividend.
!I)sl,PlYinent of 30s. per share, there would remain
Vles4rice of 894/. The divid-nds which had been paid
4)8 "" openinat of the line were as follow:—In 1842,
44a, Zlaal to 3/.‘ per cent.; in 1843, 205., equal to 21 per
h4ttcl in the last year, 425. per share, equal to
't•kl; vier cent.; and they anticipated, when their traffic
live ieh its maximum, each year would show a progres-
4efyilerease- He believed he had now touched upon
Netant worthy of notice; but before he sat down, he
flat ti take that opportunity of stating that this was the
7` 'tll-4 he should have the honour of addres-in them
tS"ile° chairman. H placed
had that morning placed
h7te hands of the Directors his resignation.
L'eleh„ " had had the honour of being a
„L"klh;t of their administration, some good, he thought,.
igt• done. Wren he first enter( d upon office, their
`et f;
went. 30/..' yesterday, he believeel, in the mar-
k‘te%,,t4dY 55-1. turd a half,-and their dividend had in-
t 41:11efrom .9/ per cent. to 41. 4s. He thought that
ttip4 would show them that he had rendered the
„IIY some good (ervice since lie had had the honour
L.ThsA a metnber of their administraten.
b7tio rellort stated that the Director had much satii-
fielltll;4l reporting the progressive state of the improve-
'us ft I`,ll their affairs —the 'present half-year presenting
tit;',71,1,,g result, ascomp-ared with the corresponding
QtPts f I"3
PasseneTre 14 per cent. more . £14,450
Goods,6&c., 9 per cent. more
Eigslncreased Receipt 15,873
"of Working, .11 per cell*. more £415
Tolls, more 1,150
Government duty, rates, &e
more
Property-t,x. &c., more
11, Increased Expenditure — 4,629
,e di
eistenee, being net increase on the half-
ititlZeehlircas.t'.ll;niansg the
deficit
11,244
brought into the
account * 4,549
Ads 43 °IQ reserve from Midsummer last, of 169
ii,le,‘,lllable Balance is yielded for divi-
te sum of £15,962
hs,he rectors called the attention of the Proprietors
kt°,lppn's'res, Which showed that, whilst their work-
tsaiilres;,si compared with a period w ductions
tetife commenced, had he en increased only in the
hp-tmat-,01 per cent., their receipts had aug-
stetere Lie rate of 14 and 9 per cent. Ttc-, Directors
eoriBge eret that the amalgamation of the locomotive and
stablishment of the South-Eastern and Croydon
11(,,t 4114' in which they united on the Ist of M,..rch
11111 to th which they anticipated important advan'
Is
retell
ore
three Companies, was to be broken up at
thsettt etre Ihe present year, a notice having been given
tbeiSeeth according to the dei dof agreement, by
the r owti -astern Company ; both the Croydon and
lien step
.Board of Dit ectors concur in opinion that
th,e(l a
ulifortunately precipitate, and they be-
t ke.atici„ little more experience would have realised
tiousealed advantages. Under these circumstances,
14:11,1'44y ihPense would hove to be incurred by this
htrraorive.. erecting workshops for the repairs of their
fort that engines, but the Proprietors might rest as-
pu:very principle of economy would be adopted
we
her 13('se• In consequence of the great increase
Beuf,iti
e", a further supply of engines and carriages
llte-ve, for leirecl before the return of the summer
41Sir,s Which purchase the Directors had availed
1411"43, mei the late advance in the price of their
and fha',l sal the whole of th •se remaining un-
-1g erielted, at an average price of 511,
tt Pep
e dividend, the proc. eds of which sale
oad. a vie Would meet the expense thus to be incurred.
Wh,hhteesas,(lo the public convenience, the Directors
iltnt the t.'he speed of one of the trains, accom-
NS our
atd distance between London and Brighton in
eatt?llto boa half, en improvement which they had
ttit,44 'eve had given much satisfaction. The ex-
Nail to the trains commenced last summer with a view to
ark 'nimbler classes a healthful recreation at a
tassjilit
tei;have proved and continue t.: be, a source
letitt th Company. Since the last half-yearly
.l.letnene, utmost efforts had been used to bring about
sertr''_°,l their claims on the South-Eastern Corn-
„lketi",?tieria! conferences had been held between the
at,tolilstiioW4rbthat Purpose, and these conferences had
Net test p 3• a long correspondence, calling on the
ree4er II board either to admit and settle the ac-
whier, or to furnish their objections thereto
eitreeerts t the-
r, „ y decline doing declarine• that their
libt4ht.qt, as v 11. e account could only be 'submitted to ar •
lleks th I:44lted out by the Act of Parliament.
4%cepteiiilllout"breyr°threere,mained but to proceed in the course
.lategly Act of Parliament, and a letter was
ir ltit ern Board o.f Di
.csst fatten on the 20th ultimo, to the
)?te albitr rectors, calling on' them to
1,t., I ator tvithin 14 days, pursuant to the Act. at tha tit ttrarlee been seen, that the Committee of the
ti4th u4fti for railways published in the Gazttte
b,ktdi° Porii.2l notification of their intention to
t4,Bariorth I'i:tient against the London and Brighton
al, ranch and
ts o the lin to recommend the postponF-
a•te' of tt. _e4 to Dorking. They also notified, in
,all4,.'Soliatesnue same date, their intention of reporting
i',',11111;: kith Bt
vaguoinst the Brighton and Chichester,
thet.Teston, the Direct London and Ports-
ca lik.:,eliarrt,bri:°n.on and Portsinotall with a branch
._"ge--in the two latter cases manifesting
hateof ln protect Ike interests of the Brighton
the "`'ne of these reports had any notice been
ht 4ta. Pr°lected to etep branch from Three Bridges to
the „a had yr these altered • 'stances the
tto. come circumstances,
4 ttP'-'l.ictors
theto determination to recommend
ost -, as they could not anticipate what
With
taken by the opposing companies, to
et;ee to _
furtli Proceed
,ers to exercise their discretion
Itti4l? obr,t-'•'• reecin ltd,arly, or all of the branch lines.
q, t ari tiled, 1, rnenci that, in the event of no Act
it
%ti g 8e in relict; expenses already incurred, or which
ttikt%;,l34lrtiltral fittlLdrence to these branches, tie paid out
use e,! of the Company: for this purpose,
sls) tact to rescind the latter part of the
IQ second resolution, passed at thv