The Sun.
London, England, 1845-11-14 00:00:00

Chorus—Quack, quack, fol-de-rol, &c.

THE MANDARIN AND THE ENGLISH LADY.—The
degraded position of females in China is well known. No-
thing astonishes the Chinamen who visit our merchants at
Hong-Kong so much as the deference which is paid by our
countrymen to their ladies, and the position which the latter
are permitted to bold in society. The very servants express
their disgust at seeing our ladies permitted to sit at table
with their lords, and wonder how men can so far forget their
dignity. A young English merchant recently took his youth-
ful wife with him to Hong-Kong, where the couple were visited
by a wealthy mandarin. The latter regarded the lady at-
tentively, and seemed to dwell with delight on her move-
ments. When she at length left the apartment, he said to
the husband, in his imperfect English, " What you give for
that wifey wife yours?" " Oh," replied the husband, laugh-
ing at the singular error of his visitor, "2,000 dollars"
This our merchant thought would appear to the Chinese
rather a high figure, but he was mistaken. " Well," said
the mandarin, taking out his book with an air of business,
" 'spose you give her to me, I give you 5,000 dollars." It is
difficult to say whether the young merchant was more
amazed or amused, but the grave air of the Chinaman con-
vinced him that he was in earnest, and he was compelled,
therefore, to refuse the offer with as much placidity as he
could assume. The mandarin was, however, pressing, and
went as high as 7,000 dollars. The merchant, who had no
previous notion of the value of the commodity which he had
taken out with him, was compelled at length to declare that
Englishmen never sold their wives after they once came into
their possession, an assertion which the Chinaman was slow
to believe. The merchant afterwards had a hearty laugh
with his young wife, when he told her that he had just dis.
covered her full value, as the mandarin had offered him
7,000 dollars for her.—Liverpool Albion.
The expenses of conducting the municipal election
of four councillors for Richmond, Yorkshire, are estimated at
3,000/.

RAILWAY INTELLIGENCE.

SOUTH DEVON.

Pevatotertr, TUESDAY.—An extraordinary general meet-
ing of the shareholders of the South Devon Railway, pur-
suant to the Act of Incorporation, was held at the Royal
Hotel. The meeting was fully attended. Mr. Thomas Gill,
M.P., the Chairman of the Board of Directors, presided. The
Secretary, Mr. Carr, having read the advertisement calling
the meeting, which said that the object of the meeting was
to consider and determine on the expediency of contributing
funds towards the construction of an intended railway from
Exmouth towards Exeter, to join the South Devon Railway
at or near the Countess Wear-bridge ; to consider and deter-
mine on the expediency of agreeing to such alterations and
extensions of the intended railway from Launceston to
Tavistock, as may be adopted by the Launceston and South
Devon Company, in consequence of the projected formation
of the North Devon Railway, and of a branch in extension
of the Cornwall Railway to Launceston ; and to consider and
determine the expediency of increasing the amount of sub-
scription to the Launceston and South Devon Railway; to
empower the directors fully to carry out the several objects
aforesaid, and to raise an additional capital for the above
purposes ; and also to authorise the directors to borrow the
amount authorised by the Act of Incorporation, to be har-
rowed by the company on mortgage or bond, as the same
- shall be required from tune to time for the purposes of the
company, in the manner prescribed by the said Act.
The OHAIMIAN then said, when the directors last had the
pleasure of meeting the shareholders, several plans had been
announced to them, which the directors had recommended to
their attention and approval, and which they bad been
pleased to approve of, and to pass resolutions with a view of
carrying the schemes out. It was hardly necessary for him
to refer to these plans specifically ; but he would state that
the first was in reference to the Cornwall line, with a view of
extending and improving which a sum not exceeding
200,0001. was voted in aid of the undertaking. For the North
Devon Railway, the directors were authorised to contribute
375,0001. The Torbay plan had been then, as it was now, not
sufficiently advanced to put the meeting in possession of the
actual estimate the directors had been authorised to carry
out : and as regarded the Ashburton and Newton Railway,
the shareholders had been pleased to empower the directors
to expend such a sum as, in their opinion, they might think
expedient. To carry out this last-named scheme, the di-
rectors had thought it their duty to contribute 20,000/.
There were other schemes in contemplation, but the di-
rectors were not in a position to bring them forward. This
had led to the calling of the present special meeting. The
first proposition of the directors was to ask the approval of
the meeting in order to enable them to contribute a sum of
money for the construction of a railway from Exmouth to
Exeter, which would go over three or four miles of the
South Devon line. It would join the South Devon Rail-
way at or near the Countess Wear-bridge, and then take
the course from Topsham to Exeter. It had been the opinion
of the directors that they would be consulting the interests of
the proprietors in assisting in the formation of this line to the
extent of 15,000/. The second scheme was that of the
Launceston and South Devon; the necessity to adopt certain
alterations and extensions having arisen in consequence of
the projected formation of the North Devon Railway, to
which they had already contributed 375,000/. It was in-
tended to take the course from Okehampton to Launceston.
It had been thought expedient on the part of the engineer,
and that opinion had been confirmed by the directors, that
the line originally to have been carried from Tavistock to
Launceston should take a different direction, to meet the
views of the North Devon Railway, thereby effecting a direct
and central line. The new arrangement would have the effect
of lengthening the line some three or four miles, which would
of course be attended with increased expense, but there were
corresponding advantages, inasmuch as the traffic would be
brought from the northern and central parts of Cornwall, and
the northern and central parts of Devon as well. This ex-
tension of the line would cause the necessity for an increase
in the amount of contribution, and therefore the directors,
though not in a position to state the actual amount the line
would require, believed that a sum of money varying from
150,000/. to 200,0001. would be requisite to carry it out. At
least at the present moment they considered it expedient to
ask the meeting to sanction the directors contributing a sum
not exceeding two-thirds of the estimate. For the purpose of
putting the meeting more fully in possession of the whole of
the object for which the present meeting had been convened, he
would state that there was one other circumstance in refer-
ence to the schemes brought before them—namely, the direc-
tors called upon the proprietors to sanction the directors
borrowing an amount of money necessary to pay the required
deposits. In the present state of their affairs it seemed to the
directors by far the more prudent and legitimate course to
borrow the money, as they were empowered to do by Act of
Parliament with their approval, than to have recourse to the
issue of whole or half-shares—a circumstance which he be-
lieved, even if it were not deprecated at the present moment,
would be deeply regretted hereafter, because, strictly speak-
ing, they were not in a position to issue shares until they
obtained their Act of Incorporation, and the object of bor-
rowing money was to be enabled to pay the deposits neces-
sary before going to Parliament. The proposition which the
directors submitted was, to enable them to borrow, if they
felt it expedient to do so, money to the extent permitted by
the Act of Parliament—namely, 366,500/. They had been
prevented doing this before, because the amount of money
to be raised by calls had not reached the limit which the
Act prescribed to enable them to borrow money on deben-
tures, or mortgages, or bonds. This limit involved the
raising of one-half the capital, and the last call made put
them in that position. This proposition, if agreed to by the
shareholders, would have the effect of protecting them from
calls for some time to come. He thought this plan of very
great advantage, both upon the ground of the terms upon
which the money could be obtained, and the more prudent
and legitimate plan which it presented for paying the requi-
site deposits in respect of the new schemes which the share-
holders had sanctioned. The first resolution which the direc-
tors recommended the meeting to adopt, authorised the direc-
tors to contribute 15,000/. towards the construction of an
intended railway from Exmouth towards Exeter, to join the
South Devon Railway, at or near the Countess ear-bridge.
Mr. T. W. Fox strongly recommended that new shares
should be issued to meet these new schemes. That course
had been adopted in a great many other lines with which he
was connected, and he thought it a very proper and judicious
one.
This suggestion led to considerable discussion, the CHAIR-
MAN remarking that it would almost amount to dishonesty
to issue half-shares till the Acts of Parliament had been ob-
tained for the making of those lines which alone rendered it
necessary that they should borrow at all.
Mr. S. DERSIC saw no difference between their issuing
new half-shares, and new companies requiring. payment of
deposits before their Acts were obtained ; but, in reply,
It was stated that there was a great difference, because
people, it was said, would buy into the South Devon Com-
pany, and pay larger premiums on the half-shares, thinking,
at the same time, that they would enjoy all the advantages
that they would be entitled to if they had been original
shareholders. The feeling of the meeting was clearly against
the plan of issuing half-shares for the present, and the reso-
lution proposed by the Chairman was carried unanimously.
The next resolution relative to the Launceston and South
Devon line was then proposed from the Chair, upon which a
discussion arose, in which Messrs. Fripp, Whiteford, Wool-
combe, and others joined, as to the advantage of the altera-
tions now proposed, by which the line will be carried round
three or four miles further, by way of Lydford, instead of
through Milton Abbot, and thence to Tavistock, as was at
first intended. This is done in order to connect it with the
North Devon line, and with the Cornwall line, by which a
central course will be given, via Crediton, on from Exeter
through Cornwall, on the broad gauge.
The resolution having passed, the directors were next
empowered to borrow the sums required for the purposes now
agreed to.
Some questions were then asked of the Chairman as to the
progress of the works on the coast, and that gentleman
stated that they were most satisfactory, and that there were
no engineering difficulties, nor any other difficulties but what
would be got over in regular course of working. The state-
ments about difficulties had been got up by interested parties
who were opposed to them. There were now about eight
wiles' length of pipe ready, and seven miles of permanent
way. The only difficulty was that they could not get the
pipe cast fast enough, -although they had three foundries
regularly at work, and would employ more if they could
get them.
In reply to questions from Mr. PRANCE,
The CHAIRMAN stated that there was no truth in the state
ment that lately went the round of the papers, relative to an
improved and more direct line being also constructed by this
company. The Hon. Gentleman declined, however, to state
when any part of the line would, in his opinion, be ready
for opening.

BRISTOL AND EXETER.
Yesterday a meeting of proprietors in the above company
was held at Bristol, for the purpose of considering what mea-
sures should be adopted in consequence of the recent decision
at the late general meeting not to sell the line to the Great
Western Company, in accordance with the provisional agree-
ment of the Directors of both companies. Mr. Stone, of
Bath, having been called to the chair,
Mr. J. S. TRIPP rose, and in a long and eloquent speech
described the merits of the Bristol and Exeter line, and
showed how entirely inadequate to its value was the sum of
6 per cent., offered by the Great Western Company for the
purchase of the line. The period had arrived when they
must either sell their line or work it independently, and
it was said that they could not do the latter ; but there
could not be a greater mistake, except that which led some
people to believe that they were entirely dependent upon
the Great Western, as if their whole traffic depended upon
their connexion with London. But it should be recollected
that if they acted independently, they would not only en-
sure the friendship of their Great Northern neighbours,
but also of the intelligent South-Western Company, who
would act with the Bristol and Exeter Company if the
Bristol and Exeter would act with them, but who were too
intelligent to lend themselves to the advancement of Great
Western interests. They were then told that if they did
not assent to the terms offered by the Great Western they
would have a direct line. He could assure them, however,
that so far from being opposed to a direct line they would ad-
vocate one properly formed, and which would not be preju-
dicial to their interests. There was another consideration,
which was, whether they should lease their line—he thought
if they did so they were lost for ever. As an instance of this
he would cite the case of the Hull and Selby, the property
in which had never increased in value since the lease, nor
had the shares gone up ; but it bad been said that 5 per cent.
was a good return for their money. They should, however,
recollect that persons did not embark their capital in railways
for the sake of 5 per cent., but for an increasing revenue to
meet increasing expenses. If a man went into Consols he
knew that he only would receive a certain per tentage for
his money; his revenue would never increase, while his ca-
pital might ; but in railways such was the development of traffic
that both his revenue and his capital might increase, so
that in the end, instead of leaving his children 20,0001., he
might be able to leave them 40,0001. Though he thought it
would be highly impolitic to lease their line, an amalgama-
tion would be another question ; but then they should take
care with whom they amalgamated, and that they were not
in a worse position than themselves. They should not be
deluded by an apparent dividend. People in London were
too wise to be deluded by the mere show of a dividend, for a
man might say, if you will lend me 1001. I will pay you 50
per cent., but the party to whom the offer was made mould
naturally say, show me the position of my 1001. Allusion
had frequently been made to the cheapness by which their
line had been constructed, but no allusion had hitherto been
made to the political influence of the Bristol and Exeter Com-
pany. They were all aware that in the south-west of Eng-
land the greatest opposition was felt by numerous companies
to the Great Western projects, and that in the next session
of Parliament that Company ould meet with much greater
opposition than they expected. New it should be recollected
that the Bristol and Exeter Company held the key of the
south-west. After some further observations Mr. Tripp moved
the following resolution :
That, reviewing the history of the Bristol and Exeter
Railway, and the proceedings of its directorate; looking at
the fact that the Great Western Railway Company has been
gradually extending its branches to the prejudice of the
Bristol and Exeter Railway Company, and taking possession
of ground which ought to have been occupied by the latter
Company, and this without opposition on the part of the Di-
rectors of that Company, and without any extension by
them of breaches from their railway; looking also at the
oppressive terms of the lease of the Bristol and Exeter
Railway, granted to the great Western Railway Company;