The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1839-07-16 00:00:00

GLASGOW, PAISLEY, AND GREENOCK RAILWAY,

(From the Greenock Advertiser.)
On Friday week the statutory half-yearly meeting of the
proprietors of this line, was held in the Sheriff Court Hall ;
Robert Dow Ker, Esq. in the chair.
Captain Huish having read the notice calling the meeting,
and also the report,
The Chairman then said, the Report now read is so full as
to leave little for me to say, except to congratulate the meet-
ing on the satisfactory progress of the works, and the pros-
perous state of the company's affairs. Three years have now
elapsed since it was first resolved to engage in this important
and spirited undertaking. At the public meeting which took
place on that occasion it was calculated that a period of four
years from that date would be necessary for its completion ;
and this promises to prove, as near as possible, correct. Two
years were occupied in framing the bill and obtaining the act
of incorporation, and with preliminary measures. It is exactly
one year since the commencing hand was put to the work,
and I have no doubt one year more, or less than that, will
suffice to bring it into full, and I trust successful operation.
Looking back to the past at this distance of time, it is pleas-
ing to contrast our present position and prospects with the
early predictions of our opponents, and the fears of our oppo-
nents, and the fears of our friends. It is true that we have
been forced into a heavy and vexatious expense in resisting
the opposition of some, and contending with the unfriendli-
ness of others, from whom we might have looked for support
and encouragement. I say vexatious, because had the par-
ties in question seen fit to seek the adjustment of their claims
by friendly, in place of coercive means, these claims would
have been equitably settled, without subjecting the company
to much unnecessary outlay, and without subjecting them-
selves to the necessity of being told by parliament, and the
country, that any effort to arrest the progress of railways, is,
in other words, a vain attempt to arrest the career of human
improvement. It is entirely a mistake to look upon this
railway as if it would be subservient to local interest merely,
or was dependent upon local resources for its support. It
aims at a higher object, and will accomplish higher ends. It
is impossible to question the good' that will be done by this
and the other Scottish Railways to Scotland, and in particular
to the cities, towns, and districts of their several localities,
or to question the vast resources of these localities for the
employment of railways ; but still the whole resources of
these railways will ,never be fully developed, nor will they
attain to that highest degree of importance which awaits them,
until, by a connecting link with the railways of England, they
become in reality a great national work, part of a great whole,
extending from the centre to the extremities of the country,
and bringing the metropolis within reach of the remotest
hamlet in the kingdom. It is this universality which gives
to railways their most beneficial character. It is earnestly
wished, and I am happy to say, confidently exted, that this
connecting link, so desirable, will ere long be accomplished,
and when it is, vast national benefits must follow. and a great
increase of employment to the railways of both kingdoms.
Another topic, it is of importance should engage the public
attention and that of the railway company, vitally connected as
it is, directly and indirectly, with the interests of both—l mean
the coal trade. Here the price of coal is, and has always
been, excessive, arising not from the cost of production, but
want of competition in the market, and expensive carriage,
being brought distances, varying from 25 miles, the nearest
distance, to 44 miles, the greatest. The consumpt of this
market is 70,000 tons annually, 16,000 tons of which are
exported ; but the latter could be increased without limit,
were the price such as to admit of competition with other
ports, as vessels are constantly sailing to all parts of the
world, and would ballast with coal in place of stones. If a
merchant has two ships, one at a cheap coal port, and the
other here, he gets the one chartered at 3s. per ton more
than the other, because the cheap coal renders the one so
much more valuable to the freighter than the other. One
manufactory has been shut for some years owing to the high
price of coal. Another manufactory, after 20 year's working,
was wound up, with a loss to the proprietors, which would
have yielded a profit had their coals been 2s. or 3s. less. I
know a house here engaged in building ships in America, who
get themselves supplied with chain cables from a port in the
North of England, in place of on the spot, where they are as
cheap, simply because they can fill the vessel with coal on
such terms as reduces the price of the iron 20 to 30 per cent.
I mention these facts to show the injurious bearing which the
high price of coal has upon the trade of this port ; and now
that the best remedy is in process of being applied to correct
the evil, viz., the intersection of coal fields by railways, I
hope the effect will be soon apparent in bringing a larger
supply to market by reducing the price ; and I shall take it
upon me to say, that every facility, in respect of convenience
and moderate carriage will be given to encourage a trade in
coals along this railway. The subject of carrying the rails to
the quays is of great importance. The directors have given
to it much attention, but have not yet come to a decision.
Two elements enter into the question ; on the one hand, the
undoubted facility to sea-faring passengers passing and re-
passing to and from Glasgow ; on the other, the expense,
which is considerable, The shareholders may rest assured
that due weight will be given to each of these considerations,
and that the question will be finally determined by what ap-
pears best for the interests of the undertaking. The sug-
gestion of a railway through the Valley of Leven is for the
consideration of the public. From careful inquiries there
appears to be a traffic sufficient to remunerate for the cost
and maintenance of a railway. If carried into effect it would
certainlX be a public advantage, and undoubtedly a produc-
tive auxiliary to our railway. In the list of expenditure,
under the head of police, is included the sum of £l9 paid to
a missionary for labouring among the workmen at Bishop-
ton. About 1000 men are collected in that neighbourhood.
The Rev. Mr. Stewart, finding it impossible to accommodate
so many in the parish church, proposed to the directors that
a missionary should be appointed specially for the workmen,
and offered, if the company would contribute £3O, to raise
other £3O, so as to make his salary £6O a-year. Mr. Stewart's
offer was readily agreed to, and Mr. M`Master labours with
ability, faithfulness, and zeal. He preaches both in Gaelic
and English. His labours are very useful, not only in pro-
moting good order and correct conduct, but in giving that
religious instruction of which the men deprived themselves
in leaving their homes, and which it is of so much importance
they should enjoy. I am sure there is not a single share-
holder who will object to this allotment of a small portion of
their funds for so excellent and worthy an object. (Applause.)
The number of workmen employed upon the whole line at
present amounts to 3500. At last public meeting the resolu-
tion of the board was announced that they would recive pay-
ment of shares in full, allowing interest at 5 per cent. on all
balances, after payment of the calls. In conformity with
this resolution 644 shares have been paid up, 566 of which
are by local proprietors. I cannot conclude without paying
a well-merited compliment to the shareholders for the prompt
manner, almost unexampled, in which the calls have been
answered. This promptitude has assisted materially in pro-
secuting the work with energy and vigour, and it has given
confidence to the directors in meeting many difficulties, be-
cause they knew they were supported by a list of shareholders,
in point of means and respectability, not surpassed by any
public undertaking in the kingdom. I had full expectation
of being able to announce the presence of Mr. Locke, as he
intended being here; but a summons to wait upon a parlia-
mentary committee has detained him in London. From this
unavoidable cause we are deprived of the pleasure of seeing
him at the meeting to-day, and which I am sure he will him-
self regret.