The Sun.
London, England, 1842-04-29 00:00:00

SOUTH EASTERN RAIL "A

A meeting of the Proprietors of the South Eastern Railwa)
was held yesterday, at tour o'clock at the London Tavern, to
,take into consideration the means of raising additional capital.
for the purpose of completing the undertaking. The meeting
was very numerously attended.
The Chair was taken by Jos. BAXENDALE, Esq., who,
having called on the Secretary to read the metal notices of the
meeting, opened the business by giving a brief outline of the
present state of the Railroad. It appeared, from the statemen'
of the Chairman, that the promise marle'at a former meeting
that the line would be opened to Tunbridge in the month of
May, would be strictly kept. The cost of the line had been
30,000/. per mile, which, taking a margin of 10 or 15 per cent.,
was not greater than they had a right. to calculate upon, in c
work of such extensive character. ' The sum already expended
wa5.1,075,000/., of which 44,0001. was paid fur interest un-
connected with the Railway. From the engineer's estimate it
appeared that a further sum of 800,0001. would be re-
quired. They had bought land, not yet paid for,
to the amount of 25,000/., and they had yet to pay for
the joint station of the Brighton Railway at London-bridge
50,00 d., and for the twelve miles of joint railway of the sere.
Company. Their ways and means were 70,0001. cash balance
arrears 35,0001., debentures 360,000/. They proposed to raise
700,0001. by new shares, which would nice them the power to
borrow 260,C00/., while under the London-bridge Station Act
*thsry equld -raise 120,000/. The Chairman then stated, that
najer the Act of Parliament, the Dover line was required to
pay the Brighton line interest on half the sum expended, till
they had paid the balance, and if they had not paid it on the'
opening of the Dover line, the Brighton line would also claim
a toll on each passenger in addition to the interest. It was,
therefore, of considerable moment to get rid of the toll by pay-
ing off the balance at once. It appeared that the Brighton
1 tie had objected to take bonds, and would require cash
The distance on the line that would be opened in May would
be forty miles, and a distance of twenty miles further in
August, with 'an additional twenty miles; that included twelve
miles of the Brighton line; all the works were under contract,
and there being no portion not let, they could speak with con-
fidence of the time of opening. He concluded by reading the
resolutions it was intended to move.
Mr. J. Moxow asked if it was intended to lane scrip with
respect to the shares ?
The CHAIRMAN replied in the affirmative.
)Ir. Moxots expressed his opinion that from the appearance
of affairs the line was likely to be eminently successful.
In reply to another question, the CHAIRMAN stated that the
new shares about to be created would be entitled to a dividend
at the same time as other shares. There were no preference
shares.

Mr. LEVY said it appeared that a great expense had been
incurred at London-bridge, and he had heard that a new station
was contemplated in the Grainge-road. He thought this station
unnecessary.
The CHAIRMAN said that the present meeting was called
for a specific purpose, but there would be another meeting in
a fortnight, at which the worthy Proprietor would have the op-
portunity of introducing the question.
Mr. LEVY said that a great deal of money was spent at the
London-bridge station, and he did not thing that it would be
wise to make another station at the Grainge-road. It was a
mistake to suppose that was nearer to the West-end than
London-bridge.
The CHAIRMAN said that hedid not think he should he per-
forming hit duty if he did not inform the meeting that his
opinion was that the London-bridge station, in consequence of
the interference of the other Companies, and the traffic they
uxpected. would not be sufficient, no matter what expense they
were put to. But none of the money required to-day would be
applied to the Grainge-road station.—( Hear. )
A PaorarEro a wished to know, if the whole amount was
paid, would they be allowed any interest or discount?
The CHAIRMAN said that the Hen. Honourable Proprietor
would perceive, by the resolution, that five per cent would be
paid on the money advanced.
A PROPRIETOR wished to know the sum of money raised
under the former Act by way of loan.
The CHAIRMAN--360,0001. _

A PROPRIETOR asked what was the use of interest, if they
were to pay the Income-tax ?
The CHAIRMAN said that he could assure the Hon. Pro•
prietor that the Income-tax did not escape them As they went
on, they should stop the interest.
Mr. TYR. REL asked how was the present resolution conform-
able to the Act of Parliament?

The Cnatam AN said the matter was left entirely to the dis-
creiionmf the Directors.
The first resolution—" That from and after the 31st of
October the interest payable on the shares of this Company do
cease, and that the shares now created do not bear interest."
The resolution was then put and carried unanimously.
A PROPRIETOR wished to know what was the number of
registered shares?
'The CHAIRMAN said 28,000.
A PROPRIETOR. wished to know what was the whole amount
raised by loans and shares ?
The CHAIRMAN said the total amount was 2,936,0001.
A PROPRIETOR said he understood that at the last meeting
2.300,000/. was considered sufficient.
The CHAIRMAN said that was so, but he left a margin of 10
or 15 per cent., which, considering the magnitude of the works,
he did not think was too much.
A PROPRIETOR--What is the loss? •

The CHAIRMAN-235,0001. up to the first of April, but it
should be recollected that, What they took out of the right
pocket they put into the left. The cost of the Railroad was
estimated at 30,000/., from which they had not deviated a
single fraction.
A PROPRIETOR said that he thought it was said at the last
meeting that 20,0001. per mile was too much.
The Co Alasrax—And perhaps it may be so still; but when
they knew that railroads, the expense of which, was calculated
at 1,000,0001., cost 2,000,000/., he thought it right to make
sure, and for that purpose he left a margin of ten or fifteen per
cent. When they considered the country through which the
line passed, and the communications they were likely to have
with the Continent, and when they looked to what was going
on in France, he thought they were bUildine on a tolerably
sour.d basis.—( Hear, hear.) If he thought the line would cost
more than 30,0001. per mile, he did not think he would be deal-
ing fairly with the Proprietors if he concealed that fact from
them. —( Hear. )
Mr. 'I YRREL said that, at the last meeting the Chairman
said that 23,000/. per mile would be sufficient. And now, it
was said that SO,OOO/. was what would be necessary.
The CliAltsmAN said he never said any such thing, and re-
ferred to the Report of last meeting, in which it was stated, that
he calculated 30,000/. as tEe cost per mile.
.Mr. TYRILEL wished to know whether the 200,0001. loss
was included in the 30,0001.
The .CHAIRMA X was as distinct as possible in answering
that question- before; he had stated that they should require
the money M bard cash, and at the same time he stated, that if
the Proprietors chose to take the money out of one pocket and
pot it in another, that they must be aware that it did not go to
the Railway.
PARSONS observed that the Chairman had stated that
in the 30,1X/0/. a mile, none of the costs of the London-
br .4ge station was included. He thought if he looked into the
mastess•he would find that upwards of 50,000/. was included.
The ClustrustaN then put the next resolution, the purport
of which was that the Company should have power to raise an
additional capital, not exceeding 700,0001., by 28,000 shares,
at the nominal value of 251.
Mr. MoxoN wished to know whether it was in the contem-
plation of the Board of Directors that the bonds should be pay-
able after the i'suing of the scrip, or otherwise,
Thoil Criaramsw said that they had suffered so much from
Put suing a mild, o • half and half course, that they were now
detet.mined to pursue a bold one. They were particularly
anxious to pay off the Brighton Company, because he was
satisfied. if they did not, they would exact all they could, and
the Directors of the present Company were determined to do
the same.—(Cheers.)
Mr. Moxos suggested that the Proprietors should be allowed
to spply fur more shares than those proposed in the resolution.
The Crtatitstass said that the preceding resolution pro-
vided for that.
The resolution was then carried unanimously.
The CHAIRMAN then put the next resolution, the object of
se'cie.ti was to provide for the payment in anticipation of eaFc,
which, if done, interest was to be allowed at the rate of five
percent: That upon payment of al: such instalments, the shares
should be issued and registered, but in case of default for 14
days, the instalments paid should be fot•Seited. After a short
colloquial discussion, the resolution was put and carried unani-
mously.
Tl!e resolutions. emeotyeris g the holders of registered shares
on the 7th Slav, to purvlllse the new issued shares, and giving
the. Directors the posse: of issuing such shares, were then put
and tarried, after considerable cusisersational discussion, with-
out opposition.
The CHAIRMAN said that before the meeting separated it
might b desirous to hear the opinions of Gentlemen connected
with Frauce on the subject of French Railroads.—( Hear )
Mr. Mons.sy, from Calais, then said that he was glad to be
able to inlOrm the meeting- that the line of railroad from Parts
to Calai f was very likely to be completed, though not imme-
that .Iy, which would opier a line of communication thrsugh
and the rest of Europe. The Chamber of Deputies
va,s bringing the mettcr into discussisn, but the Ministry were
undecided between the Calais and Boulogne lines. The former
line would open the communication to Belgium, and such was
the desire of the French people to have railroads that nothing
crd,' prevent their being es' Wished. lie therefore thought that
if a line were carried tai Dwer by the South Eastern Conreasly,
iw would add 20 per cent. to their waits.
The CHA IRMA N said that be believed the opinion of the
Directors was already intimated, that they preferred the
Calais lie?. So far as he was concerned himself, he would
_much pi ger to travel by the Calais line.
r. Mounev said, he hoped the Chairman would be able to
tra,„!4 from Calais to Paris in the year 1849 by railroad.
The CU ALRM A N said he hoped so.— ( Latiehter. ) He
would now inform the meeting that Coionel Paisley travelled
on the line as far as '..rant,sidge, and expressed much satistac-
t ion at the mono in which it %yds carried on.
Sir. l'ARs.”4, said, that Mr. Steishenson, and Mr. Vignolle,
bad both expressed themselves favourab:(3 to the Calais line.
A rote of-thanks was then Unanimously cari:sd lo the Chair-
man and Directors, and the Meeting broke up,

SALE AT STIIAAVBERY HILL.
Yest, rday the sale of books was corn inued, and the disposal
eif this portion of the property will not be completed belore
the end of the week. The sale was interesting as it included
the works printed at the private press of Horace Walpole, at
Strawberry-hill. These were divided into 27 lots, and realised
2(191. 10s. 6d. The price each individual lot obtained was
About four times what they usually realise. Horace Walpole's
.)wn copy of the Anecdotes of Painting was purchased by Mr.
Illoone for 33/. 125.; and lot 144, 111? moires du Comte de
Chaumont, illustrated with prints, drawings, and manuscript
Tte4, 4to, 1772, bound in calf, was knocked down to Mr.
'7'lrm'gi for 15 guineas. Lot 150. A complete set of all the
4'waelied and small pieces, printed at the press at Strawbery •
hill, boards, and also a tract containing a correct list of every
Itiwk printed at this press, was, after much competion, secured
by Air. Thorpe, for 151. Lot 151. A description of the
Villa at Strawbery.hill, by Horace Walpole, 4to, the first
edition, illustrated, 1774, bound in calf—by Mr. Bohn, fur
Par. Beckford, 161. Lot 157, and the three following, being ca-
talogues of the pictures or King Charles 1., edited by Horace
Walpole, from the manuscripts of George Vertue ; of
ILe! pictures of King James 11., and (queen Caroline t
of the pictures of George Villiers, Duke of Buckingham, for-
merly that of Sir P. P. Rubene, and the catalogue of Sir P.
lely, and a complete catalogue of the works of W. Hollar, all in
.4to , and boun:l in vellum, were purchased by a gentleman for
122/. 10s. Lot 166. The Castle of Otranto, first edition, calf,
and ditto the second edition, with drawings of the Cg.,,s)e?
calf, 3/. 10s. The other portion of the sal; was chiefly com-
posed of classical books. These sold generally at very high
rices, viz.—Lot 108. Xenophon de Cyri Institutione,
thrmii, Sheldon, folio, in morocco, and Martiale's Epigram.
mats, was-pnrchased by Mr. J. Bohn for the large of
14/. Lots 81 to 88. comprising 75 volumes of the Classics, in
red morocco, were 'sold for 411. The amount realised by this
day's sale was upwards of 5001.

The Celt-Int de Lyon gives some details respeetin,
the man who had been found on the banks of the Rhone, with
r..everal wounds in different parts of his body. It appears that
he had mentioned in a cabaret that he had 50f. in his pocket,
an d on Lis leaving it he was assailed by five men, who robbed
him, gagged him, tied his hands behind leis back, and threw
him into the Rhone. Being a good swimmer, he contrived to
float on his back, and pushed himself forward with his feet
until he gained the land, where he was taken up and kindly
rKated by the peasants. He is at present in the Hotel Dieu,
and will soon, it is said, be perfectly restored to health.