The Sun.
London, England, 1845-01-08 00:00:00

Gross annual receipts 96,354
Deduct for working expenses, calculated at 40
per cent.

38,541

Net receipts per annum £57,813
The line was fifteen miles in length, and the only ex-
pensive portions would b those which approached the
termini. From the detailed estimates, which had
been prepared with great care, the Directors
were satisfied that the cost of the whole
work would not exceed 500,0001., upon which amount
the estimated revenue would pay more than eleven and
a half per cent. per annum. Should the meeting concur
with the Directors, it would b.• proposed to apply to Par-
liament to obtain an Act authotising the construction of
this line.

The CHAIRMAN said, that as the shareholders had
been assembled for the special purpose of considering the
report, he trusted that on that occasion they would ab-
stain from introducing any other topics. This arrange.
ment would, he thought, be conducive to the convenience
of all parties. At the last meeting it was felt
to be very desirable that the immense extent of country
lying beyond the Blackwell terminus, and a great
portion of which was at present unserved by their rail-
way, should not be left in that condition. It was not
likely that any other company could be induced to join
in incurring the expense necessary for constructing
a railway over a most expensive district of
one mile and three qnarters. It was equally
unreasonable to suppose that any company could
be formed for the purpose of making a railway for that
district. The Directors having turned this matter over
in their mix.ds, aad having seen how necessary it was
that some step should be taken to secure a fair return
fur the enormous capital expended, bad now the plea-
sure of submitting to this meetil.s a report in reference
to the project. They had, at first, indeed,
thought there must be some good reason which had in-
duced other companies to select the valley of the Lea in
preference to that of the Ribble, but after duly consider-
ing the subject, they had arrived at the conviction that
there was a valuable opening for such an extension of
the line as they now pr posed to make.—(llear, hear.)
Even if the Blackwell Railway Company did not under-
take the project, still a cempany might be formed in
conjunction a ith their own, which would carry the line
as far as tetepney.—(llear, hear.) In the estimates
which had been made great care had been taken to make
every necessary deduction, and he believed that
they might fully be relied upon by the shareholders.
The Eastern Counties Company had been invited to
unite with them to secure this object ; but they had
since adopted a resolution declining ail co-operation.
The question, then, fer determination was, whe-
ther or not they should proceed. Supposing
they were to do so, the matter would stand in this posi-
tion. If the Board of Trade objected to the scheme,
which he could not believe a likely event, the money
would revert again to the parties who had advanced it;
if the Board of Trade approved of the scheme, that
money would remain as part of the capital
of any company which might undertake the
line, whether it were the Bleckwall or some
other company in co-operation with it; and lastly, if
they did not choose to carry out the project after obtain-
ing the sanction of the Board of Trade, the matter would
en I with the expenditure of a few hundred p_unds. At
all events, there could be no question that the for-
mation of the line woi. Id be an advantage to
the Blackwell Company, and he should, therefore pro-
pose the following resolution:--"That,
in the opinion of
this meeting, it woul be of great advantage to the
interests of the Shan holders of the London and Black- wall Railway that a railway should be formed from the
Blackwell Railway at Stepney to Epping.„
Captain PAGE seconded the resolution
Mr. LEVY said he thought the Directors had great
confidence in the forbearance of the shareholders, since
after giving them only half- a-crown for the last two or,
three years, they now called upan them for a further
advance of half a million. He knew a great deal about
the traffic on these roads, having been employed by
the Government to check it during a considerable
period, and he never saw such an exaggerated
statement as that bid, re the meeting. —(Hear, hear.)
L was made out that 740,000 people came from Strat-
ford to London in the year. That was about 2,000 a
day. Why the whole population of Stratford did not
reach that amount.—(llear, hear.) What was to come
from these places ? Take the case of Epping. flay
was brought to Whitechapel, potatoes and cabbages to
Spitalficlds, and a few sauSa4cs from Epping. Could
they expect that all these would in future come by railway?
(Hear, .ear.) Tie believed that if they had taken the
whole country they could not possibly have selected a
worse line.— ( Hear, hear,) E:ping itself had never been
able to support a stage coach. They might expend
500,000/. in constructing this line ; but if it ever paid one
farthing in the pound for the cutlay, lie would undertake
to eat all the places which would be served by it.—
(Laughter.)