The Sun.
London, England, 1842-03-11 00:00:00

LONDON AND CROYDON RAIL-
WAY COMPANY.
The thirteenth Half-yearly General Meeting of the Pro-
prietors of the London and Croydon Railway Company, took
place yesterday at one o'clock, at the London Tavern, Bishops-
gate-street, W. A. Wilkinson, Esq., in the Chair.
The seal of the Company was affixed to the list of the Pro-
prietors, and the advertisement calling the meeting having
been read,
The CHAIRMAN calTHEled upo REPORT n the Secretary to read
" Gentlemen.—Since our last General Meeting your Direc-
tors have had to contend with difficulties of a most vexatious
and unprecedented character, difficulties which not only could
not be foreseen, but which could not fail to be seriously detri-
mental to the traffic of the railway, and, in consequence, they
are obliged to submit a Report and statement of accounts very
different from those which they had hoped they should have
been enabled to present, and which the concluding paragraph
of the last Report had, doubtless, led the Pi opaietie s to expect.
" From the period of its opening to November last, then
nearly two years and a half, the traffic of your line had never
once been interrupted, not even by the partial closing of one
rail, a matter of frequent occurrence on railways, although
through the whole of that time the earthworks have been a
of that
con tant source of trouble and expens but on the 2month, a land slip occurred at New-cross, by which many
e ; ,1
thousand tons of eartb were thrown upon the line, so as to
block it up, and entirely prevent the passage of the trains.
"In the unfortunate position in which your Directors were
placed by this circumstance, they felt it to be their duty to
adopt the readiest measures, so that as little inconvenience as
p assible might be sustained by the Croydon and Brighton pas-
sengers; they were perfectly aware that the best arrangements
they could make could not but be attended with considerable
discomfort to travellers, and no exertions were wanting on
their part, or on that of your resident eng neer, and the other
officers of the Company, to render the state of things as little
annoying and uncomfortable as the nature of their misfortnne
would admit. The slip took place at about nine o'clock in the
evening, and before the first train of the next morning a path-
way had been cut, boarded and sanded on the opposite slope,
about 300 yards in length, for the purpose of enabling the pas-
sengers to walk past the obstruction from one train of carriages
to another placed ready to receive them; as this path, how-
ever, was necessarily very steep and exposed to the weather,
omnibuses were likewise provided at the Dartmouth Arms in
time for the first train, by which the passengers were con-
veyed to New •eross. 'this mode incurring a considerable loss
of time, as well as great expense, we's afterwards abandoned
with the concurrence of the passengers, and a covered way
was constructed lower down the slope by which they passed
over with very slight inconvenience and delay. The most
energetic measures were at the same time adopted to clear the
line under the advice of your consulting engineer, Mr. Cubitt,
who wss immediately on the spot, and by a large force of men
working day and night, this was effected in about seventeen
days, the trains again passed regularly, and your Directors had
every reason tohope that they would continue so to do. On the
al of Decemher, however, another slip took place, which again
blocked up the line until the 23d of that month. Again, on
the 7ih of January, an extension pf the slip at New-cross
covered both lines of railway, and from that time almost to the
present, with scarcely an interval, one fall after another has on-
stirred, by which, although through the greatest exertions of
the officers of the Company, the means of traversing the line at
the slip have always been presented to the passengers, the
traffic has been nevertheless greatly and seriously interrupted.
Your Directors are conscious that the traffic of the Brighton
Railway has suffered materially from this interruption, and they
desire to bees testimony to the great gsod nature and forbear-
ance with which the necessary inconveniences have been sub-
mitted to by all parties, and the readiness with which assist-
ance has been afforded by the Directors of the Companies on
either side of them. But the disasters on the Croydon Rail-
way have not been the only impediment to the development of
the Brighton traffic. The unfortunate occurrences on thatillail-
way soon af:er its opening, by which the weekly receipts were
reduced from 3,5841. to little more than half that amount, pre-
vious to the first obstruction on the Croydon line, have no
doubt contributed largely to the defalcation of those receipts. ,
" It must be expected that in consequence of these inter-
ruptions to the traffic, and the bad state of the weather, the in-
come of your railway, both from fares and toll, has fallen very
short of the former anticipation of your Directors, and that
under these circumstances, the hope previously held out of a
division of profits, at the present time would be likely to be dis-
appointed; nevertheless, as will appear by the annexed account,
the result of your own traffic for the last half-year, together
with the toll received from the Brighton Company, have suf •
fined to defray the ordinary expenses of the railway, and pay the
meaonnetheasr,etehle y fail to improve
Proprietors may
interest of your borrowed capital ; and as the position of the
very Company
considerably iis sueih i
thna
the
hiet snieleto m
six e
perhaps be justifiel4n div ding the remainder of the sum ac-
cumulated to the credit of the traffic account, to which course,
if it .hould be desired, your Directors do not wish to snake any
objection, since the only item fairly chargeable to this account
is the depreciation of the Company's stock, which, under the
circumstances above alluded to, may doubtless be safely deferred.
Your Directors regret to say that the serious character of
the land slips at New-cross, Forest •hill, and indeed throughout
the cuttings on the inclined plane, together with the necessa-
rily great cost of removing these slips, and the attendant ex-
penses of working the traffic under the existing circumstances,
will not only exhaust the whole of their available funds, but
will render it necessary eventually to make application to the
Proprietors for a further advance of capital, which, six months
ago, your Directors hoped that their arrangements had enabled
them to avoid. Your Directors, however, trust that this appli-
cation will not be required until the resources of the railway
have been still further developed.
" Your Directors are happy to inform you that they have
concluded an arraneement with the 'South Eastern Company,
for the joint working and management of their.locomotive
power, upon the principle that the cost to each Company shall
be in proportion to the use thereof. By this arrangement the
greatest possible economy will be effected, and the public safety
essentially promoted, and the further benefit will accrue to this
Company, that it will be thus enabled, without unnecessary loss,
to accommodate the quantity of its traffic to the operation of the
tell levied, or to be levied for the future, by the Greenwich
Company.
" Your Directors cannot allude to this subject without draw-
ing the attention of the Proprietors to the toll arrangement
about to he concluded between the Northern and Eastern and
Eastern Counties Companies. These Companies are somewhat
similarly situated to the Croydon and Greenwich Companies,
having an agreement for a 4d. toll for a distance of 34 miles.
The Eastern C',unties Company is reported to have agreed to a
reduction i f this toll to 3d., 20., and 2d., for the first, second,
and third class passengers respectively, between Ponders-end
and London, which for the distance of the Eastern Counties
Railway used, is equivalent to an average of less than id. per
mile, while the present charge of the Greenwich Company to
the Croydon is more than led. per mile, and the contemplated
charge more than 2d. per mile. The tact that the Eastern
Counties Company has seen the good policy of modifying their
original agreement, is a strong proof of the soundness of the
views of your Directors upon this subject, • and will, it is to be
hoped, sooner or later, carry conviction to the minds of the
Proprietors of the Greenwich Railway.
" With a view to facilitate access to the Croydon and other
lines from the western end of London, and to afford a goods
and cattle station for the South Eastern Railway, which can-
not be so conveniently obtained at London•bridge, your Direc-
tors have entertained a proposition, for which the necessary
Parliamentary notices have been given, to join the latter Com-
pany in procuring an approach to your railway at Corbet's-
lane, frem the Grange-road, a spot about two miles from West-
minster-bridge. The Bill for this. object, however, will be
submitted to your consideration at a special meeting to be called
for that purpose.
" The Directors who go out by rotation, pursuant to the Com-
pany's Act of Parliament, are James Whiskin and John Lewis
Ricardo, Esquires, who are eligible for re-election.
" Your Directors have received the resignation of Newman
Smith, Esq., and have elected Charles Sedgfield Crowley,
Esq., of Croydon, in his place. Your Directors have likewise
received the resignation of Robert Hollond, Esq , M.P., but
as this gentleman. and John Lewis Ricardo, Esq., M.P., who
goes out by rotation, have ceased to take any active part in the
direction of your affairs during the past six months, in pursu-
ance of an understanding with the Proprietors that the number
of Directors should be reduced, it is proposed that the va-
cancies occasioned by the retirement of these gentlemen shall
not be filled up.
" The vacancy among the Auditors, occasioned by the re-
signation of Henry Tudor, Esq., has been filled up by the elec-
tion of John Norbury, Esq., and Richard Sterry, Esq., is pro-
posed in the room of Charles Sedgfield Crowley, Esq., who has
been elected a Director.
sf WILLIAM ARTHUR WILKINSON, Chairman."
The meeting decided to dispense with the reading of the
accounts, as each Proprietor bad been furnished with a copy
of them.
The CHAIRMAN, in rising to move the reception of the
Report, trusted he might be permitted to make a few observa-
tions, to explain to the meeting the manner in which he pro-
posed their proceedings should be conducted, and as the organ
of the Directors, to lay before the meeting the view which the
Directors entertained of the policy which the Company ought
to pursue at the present crisis of their affairs. He trusted that
the Report would be received and adopted at once, and then he
proposed that they should proceed to discuss, with the Proprie-
tors, the various important matters on which the Directors had
thought it proper to seek the opinion and advice of the Pro-
prietors. He trusted the Report would be received with as
little discussion as possible, in order to save time. The Report
had been drawsi up in such a manner as not to pledge the
Proprietors. In fact, the only part which could possibly pledge
the Proprietors, was the paragraph relating to the arrange-
ment with the South Eastern Company, and he did not
apprehend that there would be any Proprietor found.
who would dissent from that arrangement. The Direc-
tors were most anxious to lay before the Proprietors their
views of the general policy which the Company ought to
pursue in this, which might be called the crisis, of their fate,
for the time had.at length arrived when, he trusted, they were
about to reap the fruit of their labours. Never had any body
The late Sir William Hay Macnaghten, Bert., of Directors better reasons for holding out bright prospects to
dividendrr ed .nu t
hy
was second son 'of Sir Francis Workman Macnaghten, Bart., the Proprietors than they had had atthe last meeting; but
d,and the
Dunkin, of Clogher, and was born in 1793. At an early line at that time had been opened,
Company
on it was in •
by Miss Dunkin, eldest daughter of the late Sir William since that period disaster had followed disaster. The Brighton
prospect of receiving,ompanf yllwhichtifithede
a Judge of the Supreme Court of Madras ; and, on that Croydon Company
age he went to India with his father, on his being appointed creasing. The tollhsadfroam 't Brighton
of 10s. to
ejußsrigh-
d' h d
. was necessarily
there some time with the family. In 1823 he married Mrs. 205.; but sh
Learned Gentleman's removal to Calcutta, in 1815, resided them in antiocritpiaTtianfgteeth. that
elheisrase
tweorulad be:Lau
the Brighton
this had been followedt by the slips
civil service of the East India Company when young, and his traffic most andmaterially,Ne
11PClintock, widow of Colonel 3PClintock. He entered the ton line, which sad retarded the development ofßrighton
civil The Re
long residence in Bengal and other parts of our Indian tie- en their own line at
New
- had thought it Report
able to explain
pendeneies fully qualified him for the highest agency. In long, because the Directors
they had been
1839 he was appointed Envoy and Minister from the Indian fully the difficulties in which placed, in
but no words could
conse-
Government to his Majesty Shah Shoojah-001-Moolk ; and it quence of those disasters; give any idea of
on the
was for his eminent services during the Affghan war in that the labours which had devolved
engineer; officers of the Company.
year that he was created a Baronet by her Majesty, at the To Mr. Gregory, their
, to Mr. Coulson,
recommendation of her Ministers. His venerable father, now the superintendent of the works
store-keeper .t o his son, Mr.
;
in his 79th year, is still living at, we believe, his seat in Henry Coulson, their to Mr. Pulford,
Ireland, having retired from the Bench in 1825. and to all the officers of the Company, their thanks
for their exertions, day and ' night, to
FOUNTAIN OF FIRE.—I have just visited a jet of were eminently due
With respect to, therdsliplMr. Cubitt,
natural gas, which rises through a small river about li mile remedy these disasters.
esent,would affo
from Pont-y-pridd (Newbridge), Glamorganshire. The their engineer, who was Pr
With regard to them any infor-
the cause of the
brook has its source in the valley between the Llantrissant and mation they might desire.
p.....p
istlll s,
Dines Mountains, flows into the Ronda, and joins the Taff at slips, they had consulted Mr. p. the geological chemist,
was attributable to a pecu-
Newbridge. In the centre of this river or brook, is a con- who had reported that the accidentwould
tinued rising or strong bubble, of about eight or ten inches liar formation going on, which
mostaccount for the extraor-
above the stream, as though the water was blown up by a cur- denary phenomena, for it was a .
rent of air, or natural gas (and exceedingly cold to the hand ). cutting had remained two and half years, such extensive slips
Directors, ,
This, when ignited, produces a powerful flame, from four to should take place. The
i had every reason
five feet in height, with intense heat ; and the smell is the to hope that their traffic would increase ; and although they
same as burning sulphur. There are two jets in the field ad- not thought it right to • deelare any dividend, yet, if the Pro-
joining, and three on the other side the brook • , but they are prietorsthat it
should be of opinion __.rewould be adviseable to di-
not so strong as the one passing through the water. The vide the small sum in hand, the pi. t ctors would not object, al-
effect by night is grand and heataifills having the appearance though they had not thought itrighto do so themselves, their
of one mass of large, brilliant blue flames. This singular being some little difference of opinion rinse/1g them on the srib-
Phenomenon was accidentally discovered by one of the men iect ; that being, however, the only subject on which any diffe-
at the adjoining mill about two months since.—Correspondent i rence of opinion subsisted. With respect to the great expense
of Athenceum. would '
woo give them
• of the Blips, Mr. Cubitt every information
THE ST. ALBAN'S BRIBERY CASE.—The friends of 1 they might require ; aml that, and other circumstances, would
for more capital.' ,
it was
Taking all the
Dr. Webster have invited him to attend a public dinner this , render it necessary to calloo.
ideration
day, to celebrate his acquittal from the charge of bribery, which ! circumstances into c
pounds would i:ea ' expected that
the hypocritical and bribery-steeped Tories of that town were about fifty thousand . . _ required. Be.
t was
base enough to trump up against him. sides the slips, which, t calculated would cost
them between 20 000/. and 30,0001. it was proposed to get rid
The Patriots de Saone-et-Loire relates that, on ' of'
on the line; that was estimated -
Ithe levels
f
Sunday last, as one of the men of the Hirondelle steamer on •
5,000/. The joint station at London-bridge had cost more than
the passage from Macon to Chalon, was running along the deck, they had expected, the sum they should have to pay being about
he fell, and thetube of his pipe, which escaped from his pocket 300001• besides the approach to the Railway from the Grange
and stood vertically on the plank, entered his head above the road, which would cost about 15,0001. The paragraph in the
right eye, and penetrated to his brain. The first effect was to Report referring! to the South Eastern Company,
was a matter
deprive him of his hearing; he then became delirious, and on of
congratulation to the Proprietors. The Directors had felt
Monday was so raving and violent that he was necessarily that greater econorey was prantidable, and the arrangement
trapped down on his bed. His life is in imminent clanger • I enters jAto with the South Eas C 7 was emme
tern
-ampan• ntly

GREECE AND HER FINANCES.
ATHENS, FED. 12.—The anniversaries of the arri-
val of the King and Queen in Greece, their birth-
days, and their name days, are all high holidays in the
capital, and hopes are cherished that on each of these
days some favours will be bestowed, some pro-
motions made, or some act agreeable to the nation
published. Such hopes have too often been disap-
pointed, and never more so than on the 6th instant,
the ninth anniversary of King Otho's landing in
Greece. The usual ceremonials were observed ; but
the only honours bestowed were crosses of the Sau-
veur to M. Christides and his associates, in reward for
their betraying the national interests, and endeavouring
to deceive Sir Stratford Canning. The Greeks care
little to see their Ministers covered with cheap• deco-
rations ; they would not feel jealous or angry were
they so covered from head to foot, before and behind,
so little do the nation esteem them ; but the whole
capital is indignant at the dotation made on the
above day to M. Kriesis, the Minister of Marine, of
100 stremata of rich currant grounds in full bearing,
in the plain of Corinth, and worth near 7,0001.
sterling, yielding near 10 per cent. annually. This
act is illegal ; no national lands can be given away
or sold without the concurrence of a National

Assembly. These lands, some of the most valuable
in the country, are specially pledged and mortgaged
by the acts of the National Congresses for the
payment of the British loans of 1824-25, for the Na-
tional Bank Actions of Capo d'lstrias' Government,
and for the Alliance Loan. It is high time that the
bondholders and Messrs. Eynard and Rothchilds should
protest against such wanton illegality. M. Kriesis is
the minister who, by treachery and ill-faith, aided the
King in forming a Ministry when Mavrocordato re-
signed ; he has sold himself to -the King for this gift—
and the Greeks with one voice cry out, shame ! If
the King is once permitted of his own free will to
grant such gifts, what is to become of the liberties of
Greece?—whence are to be paid the claims of the
veterans of the war of independence ?—where is the
security for the public debt of Greece ? Capo
d'lstrias never attempted such dishonest means to gain

partisans.
To show the falling off in the revenue, I will give
you a statement of the British trade, for 1840 and
1841, in the Gulf of Patras, which I have from sources
that can be fully relied upon, and I call the attention
of all who are interested. in Greece to examine it.
In 1840, 60 British vessels entered Patras, of
the tonnage of 7,926 tons, and with
cargoes worth
In 1841, only 47 vessels entered, 6,235 tons,
with cargoes worth

. £39,500

18,500

'ailing off in entries, 14 vessels ; in cargoes £21,000
n 1840, 62 British vessels cleared from
Patras, with cargoes worth £230,200
n 1841, 47 British vessels cleared, with
cargoes worth

Falling off 15 vessels ; and value of
cargoes f 120,800
Thus the aggregate British trade last year in that
part of Greece was less than half what it- was in 1840.
The deficiency in the revenue from this falling-off, is—
On imports, the duty being 10 per cent. ad
valorem,
On exports, duty and land-tax 16 per cent

£2,100
19,328

Total deficit in revenue £21,428
Or 600,000 drachmas from one district of Greece, on
one branch of trade, and with one nation only. When
you consider that this large deficit forms 1-25th part
of the total revenue of Greece, and that all branches
of trade and industry, as well as agriculture, have
equally suffered during the past year, it is not too
much to calculate the total deficit at 3,000,000 of
drachmas, or one-fifth the revenue. Is this a moment
to alienate national property ? Is this good faith to
the nation, or to the foreign bondholders ? These
latter must make themselves heard, and the powers
that guaranteed the last loan must take instant means
to put a stop to such proceedings, which exceed in in-
iquity all the blunderings of the Regency and its le-
gion of Bavarian leeches who so long sucked the
heart's blood of Greece.

NE WEST LONDON AND PARIS
FASHIONS FOR MARCH.

(From the World of Fashion Monthly Magazine.)
CARRIAGE HATS AND BONNETS are being generally
made in velours epingle, and plain velvet; they are
mostly ornamented with drooping feathers, either
round or spiralees ; others have flowers of the most
natural appearance. Some of them are worn with no
other trimming than a voile d'Angleterre. For in-
stance, a capote in sky blue velvet has a charm-
ing
effect ; the voile d'Angleterre being plaited, and
totally enveloping the capote, and folds being gathered
on the left side, and passing through a nceud of ribbon
composed of velours epingle of the same colour, shaded
with white. Capotes are being made in velours des
Indes, of a new and graceful form, trimmed with
bouquets of feathers.
BERTHES or PELERINES are now all the fashion ; it
simply a berthe which opens in the front, but is
sufficiently deep to almost shade the ceinture
CAPS are now being mostly made in lace ; those in
point lace are considered most recherche, trimmed
with nwuds of grenat velvet ; those in blonde are
generally made in the following style : the cap
is composed of a double barbe of blonde, the
two ends being reunited on the left side by an
agrafe of drooping roses ; the laced edge of the blonde
falling over the front, throws a becoming shade over
the forehead.

HEAD DRESSES.—The greatest novelty are those
pretty little turbans in velvet : the top of the turban
being perfectly flat and plain, ornamented with
Arabian acorns. The arched bandeaus are still fa-
vourites with those whose complexions are somewhat
dark ; then there is the Arabian head dress, composed
of cherry coloured rouleaus in velvet, and gold cords,
or with the barbes d'Alencon.

WALKING DRESSES.—The most fashionable style
adopted for out-door costume are les robes redingotes,
made in pearl grey satin, faced with velours epingle,
edged with a plain face, and down the centre of the
skirt are placed bows en chola. A double pelerine or
cape is always worn with this style of pelisse, moderately
high, bordered with velvet and lace ; the corsage plain,
and waist rounded, no band being worn ; the sleeves
plain, having facings of velvet, edged with lace.
EVENING AND BALL DRESSES.—The form of. eve-
ning costumes differ more in the skirts than in
the style of the corsage, the latter being gene-
rally made a pointes, the top of the body ra-
ther high, plaided, or a schall ; sleeves very short
and simple, and solely ornamented with the same
kind of trimming which decorates the skirt. We
select the following, as being the prettiest, and in-
tended to grace the form of the beautiful Duchess
of B. ; the material of one of the dresses being
in white moire, the jupe open, with the
faeings of a pretty colour, worn with a satin
skirt underneath, the whole ornamented with a
silver ribbon about three .fingers wide, Another
dress was composed of crepe crepee, of a delicate sky
blue; the skirt a deu jupes; a draped body, and very
small short sleeves, the two jupes being caught up
with two agrafes, composed of tips of marabouts, at-
tacved upon a bow of brilliants.
THE KAZAWIKA.—This .is a charming fantasie,
made in velvet, the body high, and showing the figure
to great advantage ; brandebourgs and cordelieres in
chenille ; the sleeves large a la reine, somewhat in the
Amazonian style of the regence ; and underneath this
wrap is worn a dress of )Tros de Tours, with rows of
gympe trimming a fille d argent.
COLOURS.—The most fashionable colours are mar-
ron, Oreille d'Ours, greens of different shades, blue
marine, and torturelle. The darker co:ours being
still worn.

THE SUN, LONDON, FRIDAY EVENING, MARCH li, 1842

calculated to effect this object. It was proposed that the whole
locomotive establishment of the Croydon line, including work-
shops, tools, and stones, and everything excepting the ear-
ria :es and waggons should be taken an account of and credited
to the Company ; any Stock belonging to the South Eastern
Company should be charged and credited in the same manner ;
each stock would be worked together, and each Company would
pay for its locomotive power in proportion to the use it had of
it. This would be a great advantage to the Croydon Railway
in its peculiar position with respect to its difference with the
Greenwich Company, as to the tolls. Whether they had much
or little business, their locomotive establishment would shrink
or enlarge in proportion to it, and if they ran two trains or
twenty, they would only have to pay for the number used. A
clause in the agreement left it open to the Brighton Cempany
to join it also, if it was found to answer in the working By
the agreement with the South Eastern Company *there
would be two locomotive managements, instead of
three; and if the Brighton Company should join,
there would only be one. With regard to the
paragraph referring to the toll, he should merely observe that
it was written before the meeting of the South Eastern Com-
pany. The arrangement had not been perrectly carried out,
but the delay had not occurred from any objection to the terms
of the modification, but from some miner arrangements about
the payment of the duty ; the principle of the modification was
not objected to. The formation of the approach from the
Grange-road would afford them an opportunity of forming a
goods and cattle station, which would prove a great advan-
tage to both Companies. With regard to the Directors, it
was understood at the last meeting that six would he sufficient
to conduct the lousiness of the Company ; the two gentlemen
retiring had consequently not taken any part in the affairs of
the Company during the last six months, and they proposed
that their vacancies should not be filled up.
A PROPRIETOR asked whether the Bill for forming the ap-
proach from the Grange-road, had not been thrown out on
Monday night last, in consequence of their not having corn-
pli -(1 with the standing orders of the House.
Mr. BURCHELL (the Solicitor of the Company) stated that
the Bill was not thrown out, but was referred back to the Stand-
ing Orders' Committee, who would decide on it this evening.
A short conversation ensued on this point, the Chairman
explaining that the only r ason the Bill had not yet been sub-
mitted to the Proprietors, was in consequence of its being neces-
sary to take certain preliminary steps, but it would not be pro.
ceeded with without the concurrence of the Proprietors. With re-
gard to the retiring Directors, the Chairman also explained that
there was ric formal resolution for limiting them to six, but it
was an understanding that that number would be sufficient to
conduct the business of the Company.
The CHAIRMAN having put the question that the Report
be adopted,
A Peoratx-roa said he wished to know whether the account
furnished in the Report included all the expenditure up to the
present time ? . _

The CHAIRMAN Slid it did not ; the account only reached
to the 31st of January last. With respect to the proposal ad-
verted to of giving away the Croydon traffic, he would take this
opportunity of observing, that, in so doing they would give
away a traffic, the profit oa which amounted to upwards of
9,000/. yearly.
In rely to a question from a Proprietor,
Tho SECRETARY stated that the expenses of the London-
bridge station were borne jointly and equally by the two Com-
panies, the Croydon and Brighton. When the South Eastern
Company came into operation, it would also bear its portion
of the expenses of that station.
Mr. PA RE said he understood that the station referred to
would cost 30,0001. more than had been at first supposed. He
desired to know was such the case ?

The SECRETARY said the original estimated expenditure was
111,0001.. to be borne equally by the three Companies. Thus
pacts would have to incur an outlay of 37,0001. It was now
found that the whole cost would amount to 250,0001., leaving
about 83,0001. to be paid by each Company, thus causing
the additional disbursement of the Company for this
station to be about 46,0001. or 48,000/. It had never been
expected that 37,000/. would cover all the expenses of theCom-
pan}• on that head. The increased expenditure arose from
ereati..g increased accommodation at the stations, consisting of
large warehouses, and other appurtenances necessary to the ad-
vantageous working of the line.
An. Hos. PROPRIETOR inquired of Mr. Robinson if the
contract for the station was entered into.
Mr. ROBINSON—Yes; and I think it is not probable the es-
.

timates will be exceeded.
An Hos. PROPRIETOR asked what wouldbe the consequence
of a separation of the Companies
The CHAIRMAN said that in the event of such a contin-
gency, arbitrators were to be appointed to settle and apportion
the expenses to be borne by each Company ; but he did not
contemplate any such separation.
An HoN. PROPRIETOR inquired how the Station was to be
paid for by the other Company ?
The CHAIRMAN said that the premises were to be paid for
at a price agreed on by both Companies.
A l'itor HIETOK asked how was the expense of the:Grange-
road to be borne by each Company ?
The CHAIRMAN said that the South Eastern Railway Com-
pany wished to have a cattle station, and though it was not ne-
cessary for them, they did not think it expedient to disagree
with that Company, whose interests were so bound up with
them on the subject.
A Puoceirroa asked what might be the cost.
The CHAIRMAN-32,0001.
A PROPRIETOR said he apprehended the Report bound
them to that expense, and he did not think that was right.
The CHAIRMAN did not think it did.
A PROPRIETOR suggested that it would be expedient to
choose an auditor from the general body of Proprietors.--
( Hear, hear.) He had not the least doubt of the integrity
of the Directors, but he did not think it right that art au-
ditor should be selected from that Board to check their own
accou.,ts.—( Hear, hear. )
The CHAIRMAN said that it was the duty of the Directors
to manage the money items, and the auditor to be appointed
would be proposed to the meeting.
A PROPRIET*II said it is the duty of the auditors to look
to the receipts, and that was very important.
A Paoratrrort asked if the expense of Grange-road was
included in the 52,000/. ?
The CH AI RM AN—Yes.
A PROPRIETOR. suggested it would be expe lient to get the
station removed as near as possible to London-bridge.—(Hear,
hear.) It may prevent others from attempting a new line.
The Report was then put from the Chair, and passed.
James Whiskin, Esq. was then appointed a Director, and
Richard Sterry, Esq., Auditor,
Mr. LEVY said he would propose that the surplus in the
hands of the Directors, should not be divided. He did not think
it worth while to divide so small a sum. They did not wsnt a
dividend of 6s. or 75., when in a short time they may be
obliged to pay so many pounds.
Sir. HERE said that he thought it would be very desirable
to make a dividend. He believed there was a surplus of
11,0001 , and he thought that those who had the brunt of
the battle should now get something. They may be desirous
to sell their shares, and he would therefore move as an amend-
ment to Mr. Levy's motion, that a dividend on the shares be
declared. —( Hear, hear. )
Mr. CAPEL seconded the motion. It was not like taking
capital from stock that a dividend should be declared among
the Shareholders. What were they to do o ith it if they did
not divide it? It appeared to him the best thing that could
be done was to declare a dividend.—( Hear, hear.)
Mr. LEVY thought it would be deceiving themselves when
they had 11,0001. only in hand, and were in expectation of
being shortly called upon for 50,0001., to make any division
of th 11,0001.
The CHAIRMAN said that the sum being derived from traf-
fic, he did not see how it could be carried to the capital ac-
count. It might be borrowed for a time, but it would even-
tually have to be divided.
Mr. LEVY would not oppose the motion, although he did
not like to be paying with one hand and receiving with another,
If another slip should come they would have no money to go on
with at all.

In answer to various questions from Proprietors,
The CHAIRMAN said that the Company had still power,
under their old Acts, to borrow 43,0001., but that if it was
found necessary to raise more money, it would most likely be
raised partly by the issue of new shares, and partly by the bor-
rowing of money ; but the Directors had not as yet given the
subject much consideration.
A PROPRIETOR said that if the whole of the money in hand
were divided it would make the dividend 6s. Bd. per share.
The CHAIRMAN said that would leave no balance in hand.
A PROPRIETOR thought it would be advisable to make the
dividend as large as possible, and therefore he should move
as an amendment that the dividend be 6s. Bd. per share.
The amendment having been seconded.
Mr. LEVY said, what are we to do if we have another slip?
A PROPRIETOR—For goodness sake do not talk about
slips, I hope we shall have no more of them.
Mr. LEvy.—Why, we are told we are to have an earthquake
next.—(Loud laughter.)
A PROPRIETOR wished to put it to the Chairman, as a pub-
lic man, whether he would recommend the division of this
balance. What had occurred might take place again, and he
contended that it was not just to place the sum expended on
account of those accidents to a bye-gone account; it ought to
he abstracted from the annual receipts. He did not see in the
account any charge for wear and tear of carriages. That surely
ought to be taken into account before they declared a dividend.
The CHAIRMAN said that his individual opinion was, that
as a general rule, it was not wise to pay with one hand and
receive with another. But it had always been the practice of
Railway Companies to carry all sums received for traffic to the
profit account, and to pay all costs of construction out of their
pockets. It was a matter of no groat importance, for they could
not have the money both ways.
A l'aornizToit said, that the real fact was, that their profits
were 1,0001., and their losses 21,0001., in consequence of the
slips; and it was at the time when they had met with a loss of
'AWOL that they were about to declare a dividend. Such a
course of proceeding was most inconsistent. The amendment
for a dividend of 6s. Bd. was then put and carried by a large
majority.
The CHAIRMAN then stated that the dividend would be paid
as soon as possible.
A PROPRIETOR wished to know what was the amount of
the Sunday traffic ?
The CHAIRMAN said it might be ascertained at the office;
and if any Proprictor wished to remit his share of it, °Clem,
would be very glad to receive it. He then stated to the meet-
ing that they had had an offer from the Brighton Company to
lease the railway from them ; it was an offer they had not felt
justified in accepting, but it was proper that the meeting should
be told what that offer was. Mr. Young would, therefore, read
the correspondence that had taken place on the subject.
The SECRETARY then read the communication containing
the offer, on the part of the Brighton Company. It stated the
inconvenience of having portions of the line which were not
under the control of one Company, and offering to lease the
Croydon line for a term years, terminable by a four years' notice.
The Croydon Company to cease to convey goods and passengers,
and their carriages to be disposed of to the Brigton Company.
who undertake the maintenance of the works, and permanent
way, and to have the sole use of the stations ; all rates and ex-
penses to be borno by the Brighton Company. The reply of
the Croydon Company pointed out that the chief inconvenience
complained of by the Brighton Company was the detention
of their trains, and the difficulty of forming their time tables ;
this the Croydon Company contend could not be attributed to
the present mode of conducting the traffic on the line, but arose
in great part from the inaccuracy of the Brighton trains them-
selves, and would still continua, were the control placed in any
other hands. It concluded by stating that they could not re-
commend their Proprietors to accept the sum offered, since it
was less than the toll at present paid by the Brighton Company
alone, independent of the advantages of the Croydon traffic.
The CHAIRMAN said he could not help thinking that they
had got hold of a good concern, since he saw other parties so
anxious to obtain possession of it. He had formerly opposed
a similar offer from another Company, and now they had an offer
from the Brighton Proprietors. It appeared to him that they were
in the position of the man who was exposed to the operation of
the wind and the rain, trying which could first make him take
off his cloak. At the period he first alluded to, the wind blew
from the south-east--(Laughter)— but now it blew more from
the south. But he thought they ought to try and keep as much
as possible in their present position. It was most natural that
the Brighton Company should desire to possess the Croydon
line ' • he was not at all astonished that they had made the offer,
but he was astonished at the manner in which it was made.
They expected that the Croydon Company, after having waited
for seven years, having received no profit, and having paid
during that time, five per cent. on the money borrowed.
should hani over all their perpetual Advantages for the
sake of five per cent. for their money. He appre-
hended that they were in a position to gain much
more than that; if they were in 'an hopeless position it