The Sun.
London, England, 1845-01-09 00:00:00

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

38,54

Net receipts per annum £57,813
The line was fifteen miles in length, and the only ex-
pensive portions would be those w hich 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 ettinitited revenue would pay more than eleven and
a half per ccut. per annum. Should the meeting concur
with the Directors, it would b^ proposed to apply to Par-
liament to obtain an Act authorising 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 topic. 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 minds, awl having seen how necessary it was
that some step should be taken to secure a fair return
fur the enormous capital expended, had now the plea-
sure of submitting to this meeting 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 proposed to make.—(Hear, hear.)
Even if the Blackvrall Railway Company did not under-
take the project, still a company might be formed in
conjunction with their own, which would carry the line
as far as btepney.—(hear, 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 all co-operation.
The question, then, for 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 Traile approved of the scheme, that
money would ramain as part of the capital
of any company which might undertake the
line, whether it were the Blackwell 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
end with the expenditure of a few hundred pounds. At
all events, there could be no question that the for-
mation of the line would be an advantage to
the Blackwell Company, and he should, therefor pro-
pose the following resolution:—" That, in the opinion of
this meeting, it would be of great advantage to the
interests of the shareholders of the London and Black-
well 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 upon 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 before the meeting.—(Hear, hear.)
It was made out that 740,000 people came from Strat-
ford to Londonin the year. That was about 2,000 a
day. Why the whole population of Stratford did not
reach that amount.—(Hear, hear.) What was to come
from these planes ? Take the case of Epping. nay
was brought to Whitechapel, potatoes and cabbages to
Spitalfields, and a few sausages from Epping. Could
they expect that all these would in future wale by railway ?