The Sun.
London, England, 1842-12-03 00:00:00

TIIE„ SUN, LONDON, S ATURDAX MORNING, DECEMBER 3, IM2.

LONDON AND DOVER RAILWAY.
The Annual General Meeting of the Proprietors
and Directors of this Railway was held yesterday at
the London Tavern, Bishopsgate-street, for the pur-
pose of receiving the Directors' and Engineer's Re-
port, a statement of the accounts, and to declare forfeit
certain shares.

JOSEPII BAXENDALE, Esq., took the Chair, and read
the Report, which stated, " That since the last general
meeting the line had been further opened—to Head-
corn in the month of August, and within the present
week to As'aford. The opening to Headcorn—the
mileage over which the Company's receipts were
taken, being, of course, increased, while, at the
same time, the payment of toll to the Brighton
Company had ceased, that to the Croydon had been
modified under the arrangement referred to below,
and the tax payable to Government had been placed
on a different footing—appeared to the Directors a
proper opportunity for introducing lower fares and
an additional class of passengers. So far as a limited
experience had enabled the Directors to arrive
at a concluOion on the subject, it warranted a be-
lief that the experiment had increased the general
usefulness of the Railway, and the net profit to
the Company. By the opening to Ashford it was
expected that the existing traffic from London to Do..
ver and Canterbury would be diverted into its new
channel, and that many of the difficulties with which
the Company had had to contend in respect to the
conveyance of passengers and parcels, beyond the line
of the Railway to their ulterior destination, would be
removed. The full development of the traffic to which
the line was entitled, and the entire freedom from de-
pendence upon arrangements not properly falling
within the province of a Railway Company, could not
of course be looked for until the full advantages
of the new system had been offered to the public
by the opening throughout to Dover. The pro-
posed extension from' the point where the Croy-
don diverges from the Greenwich line to the
Grange-road, had occupied the careful attention of
'the Directors. In pursuanCe of the resolution passed
at the last meeting, they had contracted to purchase,
for about 35,0001.,- so much of the land required as
was necessary in order to secure to the Company the
power of prosecuting the design. Further negotiations
had put them in a position to recommend to the Propries
tors the continuation of the line to a point near the Brick-
layers' Arms, still nearer to London than that which
was considered at the last meeting. The advantages
of a West-end terminus, close to the already accus-
tomed point of convergence on the southern side of the
bridges, were great and obvious ; but these did not
constitute the only inducement by which the
Directors had been influenced. The terminus at
London-bridge, which would shortly he completed,
was very valuable for the purposes it was designed
to serve, but did not afford sufficient space for
carrying out in a safe, creditable, and efficient
manner, the amount and various kinds of traffic in
passengers, goods, and cattle, which might reasonably
be expected at the London, terminus of the line.
Twenty-three acres of commodious station room
would be made available if the present suggestion
were adopted; and the Directors were advised by
their engineer that the increased convenience thus
afforded to the Company was a consideration to which
they could not easily attach too great importance.
The Brighton Company had declined to 'unite in
the proposed extension, and as the participation of the
Croydon Company was uncertain, the Proprietors of
this Company, if they sanctioned the project, must be
prepared to invest the Directors with full powers for
carrying it into effect on the sole responsibility of
the South-Eastern Company. The total cost of this
branch, with the extension now proposed, including
the costs of application to Parliament, and of the line
and station, would probably be not far short of
200,0001. Against this expenditure, besides the ad-
vantages above referred to, must be, set the annual
amount saved in tolls, and the confluence of traffic
likely to be attracted to this branch • and considering
its importance, and the advanced and promising state
of the undertaking generally, the Directors did not
hesitate to recommend its adoption to the meeting.
The Proprietors were aware, that in order to com-
plete the line according to the estimates laid before
previous meetings, two sums of 120,0001. and
100,0001. remained to be raised under the authority of
the Acts already obtained. The order of a General
Meeting was necessary to enable the Board to raise
these sums ; that for the 120,000/. was given by a
previous meeting, and that for 100,0001. would be
submitted to the Proprietors. The mode pro-
posed by the Board was the issue of debentures
and loan notes, for the whole amount required.
The Directors have had .much satisfaction in
laying before the Proprietors Mr. Stephenson's
elaborate Report, on the surveys made for
lines connecting the South-Eastern Railway, by
way of Calais or Boulogne, with Paris and
other, important places on the Continent of. Europe.
While this Company, from a sense of propriety as
well as of prudence, had always abstained from any
interference with the projects for railways on the
other side of the Channel, the Proprietors could not
fail to receive with interest a Report ascertaining, by
a careful comparison of engineering capabilities with
existing traffic, the future prosperity of an undertaking
calettlated to enhance the value of their own line.

The statement of the receipts and expenditure
showed a balance of 108,3751. 10s. Oid. in the hands
of the Company.
The CuAiamAN: then read the Engineer's Report,
which stated the line was now opened to Ashford,
and would be opened throughout in the end of next
year. The opening to Folkstone would take place
early in the summer. The Chairman then went on
to say, that in 1836 the Royal Assent was given to
the Bill of the South-Eastern Railway Company, and
the first general meeting of the Proprietors took place
in 1837. Perhaps no railway had ever moved
slower than this one appeared to have done. The
expenditure since the commencement of the Rail-
way had averaged about 100,0001. per an-
num ; but from March to November last the
expenditure had been 260,0001., and for the whole
year 1,230,0001., making a total , of two millions
of money. During the time the rail Way had been in
course of completion, the Directors had frequently
changed, and now only one original Director re-
mained, and he (the Chairman) happened to be the
third who had presided at that Board. In the six
years following 1835 there had been an expenditure
of 320,0001., and in the following six months, 250,0001.
From September to October, 1842, the expenditure
was 224,000/. ; since which period up to the 15th
November, it had been 193,000/., the total payment,
therefore, was 2,187,0001. The further expenditure
required, according to the Engineer's Report, was
596,0001., making a total of 2,783,0001.; but from
this sum would be deducted the interest paid on the
shares which had been received back, the cost of
the land at the Bricklayers' Arms, and other
items, which would reduce the sum to 2,681,0001.
The line would, therefore, be completed at a
cost of between three and four millions.
The total amount at present at command of
the Directors was 83,000/. The estimate for the
Dover terminus would be considered at a special ge-
neral meeting. The terminus at the Bricklayers'
Arms was a subject of great importance, and would
be brought under the consideration of the meeting.
This terminus, if erected, would place the railway
within about three quarters of a mile of St. Paul's, about
a mile and a half from Westminster-bridge, about two
miles from Waterloo-bridge, and two and a half from
Charing-cross. The necessity for this branch was
very urgent. At the present station it was out of the
question to think of carrying goods. What business
could be conducted when he told them that the station
for three Companies, the Brighton, the Croydon, and
the Dover, stood on ground about a quarter the size of
Westminster Hall. It appeared to him that there
was no earthly reason why the Brighton, the Dover,
and the Croy don should not act in concert, and for
their mutual benefit. The station at London-bridge
for the three Companies was 100 feet by 52, while
at the Camden station of the London and Birming-
haM for one carrier alone the allotment was
227 feet.—(Hear, hear.) He therefore thought
that the Grange undertaking must be beneficial
to the Dover Company. The Chairman then entered
into a long statement to show that the arrangement
made by the Company with respect to the New Cross
Station, had been of great advantage to the Company.
The arrangement being, that instead of paying ls. per
head each passenger indiscriminately upon the lire
to the Croydon Company, the Croydon Company
should take a proportionate charge for each,
according to the distance travelled, whereby the Dover
Company had been enabled to carry third-class pas-
sengers. The next point he would call their atten-
tion to was the position of each Company with respect
to each other. He thought the public and the Com-
panies would be materially benefited by the Direc-
tors in each pulling well together.—(Hear, hear.)
The Brighton, the Croydon, and the Dover Company
had no possible excuse for not acting as one. He
hoped that the proprietors would take some measures so
as to compel thirty-eight foolish gentlemen to adopt
a course which must be beneficial to all. He had
hoped that common sense would prevail, but it had
not seemed to have gained ground at all. He had
seen the establishments reducing their labourers from
21s. to 195., but this was not the reform that was re-
quired; what was wanted was to make the three
Companies work as one. They did not want three
Directors, three staffs, or three locomotive
establishments. Could any one suppose that two sta-
tions were required at Croydon and two at Reigate?
He had heard this bitterly complained of by passen-
gers, who had suffered. •What was required was one
staff for the whole, one engineer, one secretary, and
one inspector. He was happy to say that they had
no disputes with their contractors, as many other
railways had. All that they now had to do was to
complete the terminus at Dover, and he hoped that
the one at the Bricklayers' Arms would be sanctioned.
He concluded by moving the adoption of the Report.
Mr. WisnAw said that according to his calcula-

tions he made the total expenditure on the railway
upwards of 3,000,0001. for its completion.
The CHAIRMAN, said that upwards of 300,0001. was
deficient in the calls. ~

Mr. WisgAw wished to know why Mr. Yates had
resigned his situation as superintendent of the line,
and whether that resignation had been an inconvenience
to the Company. Ile wished to know also what the
actual cost of the railway was likely to be.
The CnAiamAN said the less that was said on that
subject by the friends of Mr. Yates the better. His
resignation had not been an inconvenience to the
Company. The cost of the railway, as was stated at
the last meeting, would be about 2,01,000/. This
was the statement they made at the last meeting, and
this was the statement they adhered to now.
After a very long discussion, the motion that the
Report be received, adopted, and printed, was put and
carried.

The CHAIRMAN said the next resolution was ern,
powering the Company to raise 220,0001. upim loan
notes. This resolution was put and carried.
A resolution was then passed, empowering the Di-
rectors to apply to Parliament for a Bill to 'continue:
the line of railway to Dover under Arch Cliff -Fort..
This resolution was passed without comment..
The resolution come to at.the last meeting, forfeit-
ing certain shares, was confirmed.
The CHAIRMAN then proposed a resolution to em-.
power the Company to go to Parliament for a Bill.
to form a branch of the railway to the Grange, near
the Bricklayers' Arms, and to erect a station.
A great deal of discussion ensued upon this reso-
lution ; several Proprietoil opposed it, as not tending
to benefit the Company.

Mr. LtvY said that the principal trade would be
in hops, and it was well knoWn that as Southwark
was the great hop-market that the dealers would, as
a matter of course, go to London Bridge rather than
send waggons to the Grange. He should, therefore,
:propose, as an amendment to the resolution, that the
subject. be taken into consideration that day twelve-
months. Considerable (jiteussion!arose upon this, and
The CHAIRMAN said the' Directors would abide
by the decision of the meeting. 'lle could only
say that the ground could now be got for a low sum,
and if they delayed, they might not have. an opportu-
nity of purchasing it except at an enormous outlay, as
the place would soon be built upon. If at' any future
time the Proprietors should see- the policy of purchas-
ing this land, and the present proposition were reject-
ed, he hoped they would not blame the Directors.• •
The amendment was then put and lost.
The original resolution, which erdpowered the
Directors to go to Parliament,
.either in conjunction
with or without the Croydon:Company, for the Bill,
was, put and carried.

A resolution was then proposed, empowering the
Directors to sell the forfeited shares.

This resolution was carried.
A vote of thanks was then carried to the Chairman,
and the meeting separated at four o'clock.

FRIDAY NIGHT'S GAZETTE.
DOWNING-STREET, DEC. 2, 1842.
The Queen has been graciously pleased to nominate
and appoint Vice-Admiral Sir William Parker, Knight
Commander of the Most Hon. Military Order of the
Bath, to be a Knight Grand Cross thereof.
Her Majesty has also been . pleased to nominate and
appoint Major-GenerarSir Henry Pottinger, Bart., to Imo
a Knight Grand Cross of the sal. Most Hon. Order.
Her Majesty has further been pleased to nominate and
appoint Major-General George Pollock, Companion of
the said most Honourable Military Order, and Major-
General William Nott, of the East India Company's Ser-
vice, to be Knights Grand Cross
,of the same Order.

hall-street. Gibson, Basinghall-street, official assignee ;
Cox, Bucklersbury.
ISAAC WINTER, brewer, Boxmoor, Hertfordshire,
.Dec. 15, at half-past eleven. and .Tan. 13, at eleven, at
the Court of Bankruptcy, Basinghall-street. Edwards,
official assignee, Frederick's-place, Old Jewry ; Steele,
Lincoln's Inn-fields.

RICHARD COULSELL, victualler, Milton, Kent,
Dec. 12, at half-past 'one' and Jan. 16, at twelve, at the
Court of Bankruptcy, Basinghall-strect. Turqupnd,
Copthall-buildings, official assignee ; Southgate, Gray's
Inn-place.
THOMAS FIELDER, baker, Brewer's. street, Somers-
town, Dec. 9, at half-past one, and Jan. 13, at two, at
the Court of Bankruptcy, Basinghall-street. Belcher,
official-assignee ; Weir, Coopers'-hall, Basinghall-streat.
SAMUEL PARKER, lamp manufacturer, Picca-
dilly, Dec. 9, at two, and Jan. 13, at half-past two, at
the Court of Bankruptcy, Basinghall-street. Belcher,
official assignee; Tyas, Beaufort-buildings. Strand.
• HARVEY GARNET PHIPPS TUCKETT, mer-
chant, Poultry, Dec. 8, at,half-pastAwelve, and Jan. 16,
at 'eleven, at the Court of Bankruptcy; Basinghall-street.
,Turquand, Copthall-buildings,' official assignee ; Law-
.l.ance and Blenkarne, Bucklersbury.
THOMAS CALDICOTT, provision merchant, New-
port, Monmouthshire, Dec. 16, and Jan. 13, at one, at
,the Bristol District Court of Banruptey. Acraman,
assi Bristol; Leman, Bristol.
• • oom ee,