The Sun.
London, England, 1845-09-23 00:00:00

TRENT VALLEY RAILWAY.

MANCHESTER, SATURDAY.—The first meeting of this Company was
held to-day at the Townhall. The meeting was made special, to
consider the expediency of empowering the Directors to apply to Par-
liament in the ensuing session to make arrangements with the North
Staffordshire Company, also to enable them to make extension
lines, &c.
Shortly after ten o'clock Mr. EDWARD TOOTAL, Vice-President of
the Board of Directors, took the chair, and expressed the satisfaction
it afforded him at being able to congratulate the shareholders on the
satisfactory and prosperous state of affairs, and of the prospect before
them, amounting to a certainty, of completing a project which would
result, not only in large benefit to the shareholders, but prove most
advantageous to the public.
Captain CLEATIIER, the Secretary, then read the report of the
Directors, which stated that the measured by which the powers and
privileges of the Company were conferred, received the royal assent
in July last ; that the Directors since then had been engaged in com-
pleting the arrangements for the formal constitution of the Com-
pany, and an active prosecution of the works upon the line. That a
contract had been entered into with Messrs. Brassey, M`Kenzie, and
Stephenson, for the formation and completion of the entire line of
railway, for public use, for the sum of 611,6191., the Company pro-
viding rails and chairs, and the contractors being paid extra for such
stations and sidings as may hereafter be found necessary. That the
Directors had reason to be satisfied as well with the terms of the
contract as with the position and character of the parties contract-
ing. That it was also gratifying to have had, in this important step,
the sanction and concurrence of the London and Birmingham
Company, which, under existing circumstances, was mainly
affected. That the Directors had been in negotiation with the
North Staffordshire Company, with a view to a limited parti-
cipation by the Trent Company in that undertaking, and that
the outline of an arrangement had some time since been agreed
to, whereby this Company became entitled to a share interest to the
extent of 300,0001. in the North Staffordshire Company. That the
precise made of effecting this arrangement had not been determined,
but that the Directors would ask of this meeting for powers to adjust
it in the way which should eventually appear most beneficial. That
the Directors had also considered the expediency of making a line
eastward, but so many competing interests were at present in
the field, that they had as yet been unable to determine whether
the interests of this Company would be best served by under-
taking any such extension, or by leaving the ground to
be occupied by other, though, of course, not hostile parties.
That the Directors would continue to give their best attention
to this ,abject ; seeking from the Proprietors now a discre-
tionary power of action, when all the plans affecting the
district should be fully before them. That the shareholders should
bear in mind that in proportion to the vigour of action by the con-
tractors for the work, would he the necessity for early and regular
ealls for capital ; that it was therefore intended to make a first call or
31. per share on an early day, and to require its payment not later
than the let of November next : the other calls would follow, the re-
spective dates and amount of which would be regulated by the neces-
sities of the company on the one hand, and on the other by the con-
venience of the shareholders. That under the combined arrrange-
ment, settled by the deed of arrangement with the London and Bir-
mingham Company, the Grand Junction, and the Manchester and
Birmingham Company, and which was embodied in the act of incor-
poration, the present Board of Directors retired, and the shareholders
should elect nine others, who were to continue in office six months.
The SECRETARY next read the engineers' report, which stated in
effect that the works were in rapid progress, and that he looked for-
ward to the speedy completion of the line, Sec. The statement of the
receipts and disbursments followed, which showed a large balance in
hand to the credit of the Company.
The reports having been adopted by the meeting, Messrs William
Birkett and John Ridgway were appointed auditors, and Mr. Blake
treasurer, and 5001. voted to Mr. Wheeler, their late secretary, as
remuneration for his services. Messrs. Edward Peel, Henry New-
bury, and Edward Tootal were elected Directors.
The meeting was then made special, and resolutions were adopted
empowering the Directors to enter into arrangements with the North
Staffordshire, and advance 300,0001. capital, and to apply for any ex-
tensions of the Trent Valley.
Thanks, on the motion of the Hon. Colonel Alison', seconded by
Captain CARNEGIE, were given to the Chairman and Directors for
their services.
A public dinner was given in the evening' to Mr. Edward Tootal,
at which he was: presented with a service of silver plate, as sub-
stantial testimony from the shareholders of the Trent Valley
Company of the estimation in which they held his services in pro-
moting the scheme, and bringing it to a successful issue. The enter-
tainment took place in the assembly room of the Albion Hotel,
and was attended by about 200 gentlemen, amongst whom were Lord
Viscount Duncannon, Hon. Col. Anson, M.P. ; Hon. Captain
Carnegie, 31.P.' Staffordshire; the Mayor of Manchester, the Mayor
of Salford, J. P. Westhead, Esq., Sec. The banquet was in every
respect a splendid one, Mr. Westhead taking the chair.
Mr. Toorat, in acknowledging the tribute paid him, spoke of the
strenuous opposition that the Trent Valley project met at every step,
from the outset to the last moment, despite all which it had at length
arrived at a successful issue.
The toasts which followed were—" The Mayor and Corporation of
Manchester, who had contributed 34,0001. towards public improve-
ments ; " The Mayor of Salford;" " The Earl of Winchilsea, and the
landowners along the line."
To which the Hon. Colonel ANsoN responded.
" The Army and Navy;" which was acknowledged by the Hon.
Captain CARNEGIE, who spoke in glowing terms of the value that
railways had proved in the facilities they afforded for the speedy
transit of troops to all parts of the country.