The Sun.
London, England, 1842-08-13 00:00:00

The eighth
.half-yaarly meeting, very numerously
at tended, of the Shareholders. and Directors of this
line; was held yesterday, at the Euston Hotel, Rus-
ton-square, G. Carr Glynn, Esq., in the chair.
Thn minutes of the last meeting, held at Birming-
ham, and of a special meeting, held in London, hav-
ing been read and confirmed,
The CUAIRMAN, preparatory to reading the Report,
addressed the meeting- to the following effect :—Dur-
lug the last six months, railway matters had not ceased
to occupy a leading place in ilie-public mind. They
had presented to Parliament a Railway Bill, for
the further regulation of railways. This Bill, he did
not hesitate to say, after the interviews which had
passed between the Deputations of Companies and the
Board of Trade, was calculated to do the interests of
railways; -in general, very considerable service. He.
was aware that, in the minds of many, the proceed-
ingi of the Railway Department of the Board of
Trade were viewed with considerable jealousy. He
(the Chairman) thought it only due to the officers of
that department, with whom he had come in contact,
to say that he had always found them ready to hear
any representations he had to make, and to receive,
as ''t'ar as they could consistently do so, the sugges-
tions of himself and others connected with railways.
He was inclined to think that the Board of Trade had
become a valuable accessory to railway interests. He
was not one of those who was afraid of haring-their
-proceedings watched and investigated ; on the con-
trary-, he courted such inquiry. It would be recol-
lected that, in the session of 1841, an application
was made to the then Chancellor of the. Ex-
chequer, by some Railway Companies in the
north of England and Scatland, for an alteration in
the Railway duties upon passengers. The Right Hon.'
Gentleman the Chancellor of the Exchequer freely
admitted that the existing mode of calculating and
taking the duties was not,-perhaps, the hest that could
be adopted ; but at the same time he stated that he
considered a compact had been Made with the whole
railway interest, and unless-all- the railways desired
an alteration, he should not his duty to adopt
1 a course which, whilst it conferred a benefit upon one
country, would be disadvantageous to another. There
the.matter rested for that session., Last session, how-
ever, he (the Chairman) was apprised that another
and similar application had been made to the new
Chancellor of . the Exchequer. He was surprised to
hear that that application had been made, but more
was he surprised when he learned that the very terms
for the alteration had actually been proposed to the
Chancellor. He (the Chatrnian) would not say
more of the nature of those terms, save that
if they had been acceded to this country would hare
been very quietly saddled withthe burden of an addi-
I tional payment to the Tax-office of upwards of 6,0001.
a year. He and his brethren resisted such a mon-
strous proposition, and, after some stir, the tax was
changed to five per cent. upon the gross passenger re-
ceipts, at which it now remained. This alteration
certainly made the country pay something more in
the shape of tax than hitherto, but it was thought ad-
visable to unite the whole railway interests through-
out the kingdom, especially as- he felt that an attempt
might be made in future years: to increase the tax,
and he thought in such an event that the whole railway
interest should act in concert instead of in small sec-
tions as heretofore.—(Hear.) He had great pleasure in
stating that they had worked the line from the Ist of
January to the Ist of July without having to record
a single casualty of any moment::—(Cheers) They.
had heard a great deal about four and six-wheeled
engines. It was- not for hiM to impugn the arrange-
ments of other Companies, and all he asked in return
was, that they might be allowed to go on as they
were going. 'They had not adopted the plan which
they pursued without mature consideration, and he
was convinced that the more their plan was laves-
tia-ated, the more excellent would it appear.— (Hear.)
Great investigations had taken place, and he appealed
to them whether the result had not proved that by
adopting the course they did, 'they had attended to
• the interests of their Shareholders and the public.—
(11-a , It had been the custom of this Com-
pany to make part. of the remuneration to the engine-
! drivers, the switchmen, and the policemen, contingent
upon good behaviour; and he was sure the Proprietors
would be gratified to hear that the amount paid this
half year on account of gratuities very much exceeded
that paid in former half years.—(Cheers.) He attri-
buted a great deal of this to the very excellent
establishment they had at WOlverton.—(Cheers.)
This Company, in common with others, had been
seriously affected in the receipts 'by the unexampled
depression which existed. in' the . manufacturing
interests ; but though their' receipts had not
come up to their anticipations, he was happy
to say that there was another source of
profit from which the Proprietors might now de-
rive some advantage—he alluded to the sale of that
superfluous number of shares which had not been
divided amongst the Proprietors before. This little
nest-egg would allow them to declare a dividend for
the last half-year of 5 per cent. He thought the (U.-
vidend could be permanently maintained, and he
was happy to add that they had made that divi-
dend, at the same time keeping up a full and suf&
cient depreciation fund. --“Cheers.) They had
already commenced the imprOvement of their pas-
senger station at London ; he hoped now they should
be able to afford to the public the accommodation
they required.—(Hear, hear.): They (the Directors).
had thought it to be their duty to afford every facility
they could to the " through passenger traffic," but
their arrangements were not even now so perfect as
they could wish. He had only, further to add,- that
the Leamington and Warwick Railway CoMpany had
abandoned their interest in • that line to the London
and Birmingham Railway • Company ; they were,
therefore, the proprietors-of that line. It was not;
however, the intention of the Directors to issue to
the Proprietors that stock duriag the present half-
year.—(Cheers.)
The Report was then read by the Secretary, and
from it we extract the following passages :
" The results of the operations in the six months which
ended on the 30th June last, according to the accounts
before the present Meeting, arc as follows :

The gross Receipts, (omitting the charge on
Rents 5331.) are 193,731
The expenses, including the allowance for de-
preciation of Stock, Interest of borrowed
Capital, and the charge on Rents, are

The net Profit

" The increase of net Profit for the Six Months, as
compared with the corresponding Half-year of 1841, will
be found to be 25,750 i.
" The most pleasing feature of this increase is, that it
chiefly results from a progressive decrease in the charges
on the Company's revenue, and particularly in that por-
tion which immediately attaches to the working of- the
traffic, and which, as appears by the June half-yearly
statements, has been successively reduced from
341. 16s. 7d. per cent. to 291. 10s. 7d. per cent. and
251. 3s. Bd. per cent.
"With the exception of 3,8401. paid for settlement of
claims for compensation to owners and occupiers of land
on the line, and 1,8771. for outstanding bills of the Com-
pany's Solicitors for proceedings Parliament, the ex?
penditure is for new carrying stock, for the purchase of
land and houses, and for construction of works and build-
ings,•calculated to meet the exigencies of the truffle, but
on a portion of which outlay, viz. 5,9211. rent will be
received.

" •
"The Directors have contracted for the tidditional
buildings which, as stated in their last Report, are re-
quired to complete the Euston station, on terms which,
owing to the present comparatively low price of mate.
rials, and a close competition amongst many of the mast
eminent builders, are decidedly advantageous to the
Company.
" The profit, 31,268 L, which has been already realised
by the sale of 1,074 of the unappropriated new 321.
shares, will be found stated in a separate account (C),
arid with the residue of the half-year ending 31st Pre-.
cember, added to the net profit for the last half-year,
(after deducting 14,3254 for depreciation of the carrying
stock,) leaves a sum of 242,2604.155. Act aft the dißsobat
of the Proprietors.
"The, Directors recommend ~that a dividend b t now
declared of 51. Per 100/. of the-capital stock, amounting
to 242,3981 which includes the profit realized to this
date on the sale of the above shares. They further re-
commend that the Income-Tax, chargeable from the sth
April, on the share of profits of each 'Proprietor, he ac-
counted for and paid.la the CoMpany out of the profits
of the current half-year.
" Referring to the minutes of proceedings of the Spe-
cial deneral Meetingg of th 9 Ist ult„ which are appointed
to this Report, the Dirrnrs propose tq. create 5,4064
distinct and integral shard, of the wiount of 321. each,
to represent the eakital of 173,000/., authorised to be
raised pder the powers of the Warwick and Leaming-
ton Union Railway Act ; such shares to be allotted, or
the value thereof accounted for, to the LoAdoxl
and sir-
mingham Railway Proprietors, in troPigtion to the in-
terest which they respectively, Bold in the capital stock of
this Company, and in conformity with the regulations
adopted on the occasion a the last creation or 30/.
shares,

The Directors 1 are to report the openin y, of th...
Stoncbegter and Uirininglata*ailway on the 1.)114 but

Glee—" Here's a health to the Prince and the Queer."
Mr. PENRY then proposed " The health of Lord Mont-
eagle,, the patron of the Society," which toast was re-
ceived with loud cheers.

Mr. PEsitY then produced letters, apologisine, for non-
attendance from Mr. Aglionhy, Mr. Hume, Mr. Hawes,
Mr. Grote, Mr. Alderman Humphery, Sir James Duke,
Mr. Ewart, Colonel Thompson, and others.
Glee—" Life's a bumper."

. James Manor,' Esq., the Secretary to the Society,
then rose and said—Mr. Chairman, the toast that I am
about to offer to your notice is one that you, I, and
every one of us feel alike interested in. It is that of the
" Metropolitan New Publicans' Protection Society."—
(Lend cheers.) I will, in as few words as possible, en-
deavour to show you that the Society has some claim
upon every one connected with or interested in a free
trade in beer. Gentlemen, I must go back a few years,
but I 'shall not be many minutes in coming to a conclu-
sion. In the year 1830 the beer trade -was thrown
open. In 1831 a small protection society arose—small,
indeed, for the protection of parties connected with the
beer trade. Other societies in other parts of London also
started, having a similar abject in view, and after
a very few months . the little societies became
connected, and all the societies became one. In 1832,
two years after.the Bill had passed, opening the trade in
beer, mylE6rds, thought it was time to begin to make ex-
Periments in legislation upon it. A Bill was brought into
the House of Lords, limiting the hour for the sale of
beer to seven o'clock in the evening—of course no eee.,
could want it after that time.—(A laugh.) Their 14;0eil.
ships Thought that no one could possibly want 'Jeer after
that time. Of course, if that Bill had passed, they would
have followed it up with another, limiting the hours of
labour to six o'clock, so that the working man might
have from six to to seven to enjoy Nitwit... I now come
to the year 1833. Their Lordshipa hosing Med in their
objeCt,_my Lord, the Marquis of Chandos, in the House
of Commons, tried his lucky hand, and he moved for a
Committee to inquire into the conduct and manage-
ment of beer-houses. Well, my Lords' Committee was
to inquire into the conduct and management of beer-
houses, but so artfully framed that no one was on that
Committee who knew a straw shout the matter. The
Committee of the
.Metropolitan New Publicans' Protee&
don Society looked upon the members forming the (fir
mittee of the Marquis of Chandos with somk'.
shin. I believe that some few friends that see had in
Parliament suggested that the Committee would be a
great deal better if it 'vas eXteVide,a, 11" - if the members
it, were Inert who kneYr 50me4"....;,g about the working
of Bill, After a greet 'loal of trouble we got that
Committee extended ir; sixteen members. Those six-
teen members -"'ere the representatives of the largest
towns hi England, vc ho could call upon their constituents
to tell what had been the operation of the beer law in
England, in the large towns of England as well as the
rural districts, The Committee was to look to the
operation of the Bill, showing whether it had done good,
or produced harm. For this purpose the Committee met.
A resolution was proposed to admit evidence from towns.
Will you believe that that resolution was only carried by a
majority of two, that evidence should be received as to
the operation of the Beer Bill ? Here was the good
effect 4 the addition of the sixteen members; or else the
evidence would have been confined to the rural districts.
But I believe the evidence from the rural districts was as
good as any, but it was necessarily confined. When the
Committee heard the evidence that the towns produced,
they made a RepOrt, and in that Report these me-
morable words were included—" That it is essential
to public justice, that the hours of all parties dealing
in ale, beer, or spirituous liquors by retail, should
be assiramidated,' —(Lond cheers.) This powerful
recommeiulation from a Committee, purposely called forth
to stop the operation of the Beer Bill, was nothing more
nor INS than a fact. We come to 1834, and thn we
fled Sir Edward Knatchbull, taking up the question
founded on the Report of the Chandos c';',lTernittee. Sir
Edward Rnatchbull had it in view ':",inmend the law re-
lating to the trade in beer. - Edward Knatchbull,
however,
eonSidP:e.,bie difficulties in his way, and.
gave qp the IW 'to Lord Althorp, declaring that he
knew riot ing about it, and he would have nothing more
.to do with it. The Committee of the Metropolitan New
Public:lßa' Protection Society, having worn out Sir
Edwr.-4-4 Knatchbull, next applied to Loyd Althorp,.and
roaAtiti hint an impartial, ready, and willing Minister
of the Crown, to attend and hear the right and wrong of
the question. He did attend, and in consequence of that
which we said, we got a Bill brOught into the House of
Commons for a free trade in beer. Thus, you see, I
have not been many minutes 'travelling over live years.
trust that • I shall bring even more important
matters under the consideration of this meeting
this evening, in order to show .that the Metro-
politan New Publicans' Protection. Society is not
a mere name, and has not been a mere nonentity, but
working for those who gain a living by a free trade in
beer.--,-(Cheers.) In 1836 our worthy important alters-. 1
dons. Hisßill did not give equal time, because he pat
he did not believe that the House was ready give
equal time even then, but his Bill gave us elt:ett o'clock
at and many important toncessiol3t, which enabled
the beer.sellei; to carry on his tra,l:i without the fear of
at i
the informer being his door in the evening, and being
dragged before the Magistrates the next morning.—
(Cheers.) In 1837 Mr, Spring Rice, our present and