The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1842-10-04 00:00:00

PARIS AND ROUEN RAILWAY.

A numerous meeting of the English shareholders in the
Paris and Rouen Railway was held in the Clarendon-rooms,
South John-street, at one o'clock, on the 29th ult., for the
Purpose of receiving a report of the directors and engineer,
with respect to the state of the concern up to that time.
On the motion of Mr. CHAS. LAWRENCE, Mr. Moss
was called to the chair.
The CHAIRMAN commenced by stating that the directors
had convened the meeting for the purpose of answering any
questions which the shareholders might desire to ask. The
best course, in his opinion, would be in the first instance to
read the report, in order to enable gentlemen to put more
pointedly any questions either to the directors or to Mr.
-Locke, or to Mr. Reed, who were also present. As far as
the report went, he (Mr. Moss) thought it would be found
satisfactory. In one respect certainly it must be so, for it
gave an assurance that before they bad again the pleasure of
meeting, the opening of the line for the purpose of working
would have taken place. The only question for the consi-
deration of the shareholders now not connected directly with
their own line, would be, how far they would think it desira-
ble to give support to the projected continuation line to
Havre, by taking shares in that concern. Some explana-
tions would be given to them upon that subject, and with
those explanations he would leave it in their hands.
Mr. SWIFT then read the report of the directors, of which
the following is a copy :
" Paris, 30th August, 1842.
REPORT OF THE CONSEIL D'ADMINISTRATION' TO THE
GENERAL MEETING.

" Gentlemen,—At the period of the General Meeting last
year, we were in a manner but preparing for our labours.
" The first year had been employed in arranging the final
Plans, and accomplishing the formalities prescribed by the
law, in letting a portion of the works, and in entering into
contract for the engines, rails, and chairs.
" Our plans and propotions have afforded general satis-
faction to the legitimate claims of the localities, and were
subjected to very little alteration.
"The purchase of the land, which one year ago was
scarcely commenced, has been carried on with the greatest
activity, and now draws to a close. For this purpose the
line was divided into two sections—the one containing nine-
teen communes, and the other twenty-nine communes. The
first section has all been purchased, excepting that part re-
quired for our Goods Station at the Batignolles, of which a
few parcels remain to be expropriated* in order to complete
this station. We are neverthless in possession of a sufficient
portion of the land to be enabled to commence the works.
In the second section all the land required for the railway
and the intermediate stations, with one exception in the
communes of Sotteville and Rouen, is already purchased.
The contemplated construction of the Havre Line required.
some alterations in our plans in these communes, or the land
would also have been purchased by this time. The new
plans have, however, passed the ordeal of the Committee of
Inquest, and we shall now proceed without loss of time to
obtain the land.
" Notwithstanding that the property required for the rail-
way is divided into 7500 parcels, the value of the land and
houses, together with the difficulties attendant on passing
through towns and villages, such as Poissy, Mantes, and
Vernon, the result has been satisfactory. The greatest por-
tion of the purchases have been made by private contract.
We have only had recourse to expropriation in a few cases,
where the properties were of great value, and these were set-
tled by the jury in the most equitable manner.
" Great care has been taken in drawing up the different
conveyances. As soon as •the few remaining purchases are
completed, an exact account of this portion of our outlay
will be made out. In the interim everything is so settled as
to place the company in perfect security.
" In the last accounts which we had the honour to lay
before you, the expenditure for the works amounted but to
200.000 f. (£8,000); on the 30th June last it reached the sum
of 11,419,404 f. 36c. (£456,776 35.) ; and at the present mo-
ment it is 14,338,460 f. 41c. (Z 73,538 Bs.) This will show
the activity which has prevailed in conducting the works.
We now lay before you the report of the engineer in chief,
which will give you a more complete account of the progress
of our enterprise.
[Then follows Mr. Locke's report-upon the state of the
works.]
" To this report we beg leave to add that the advanced state
of the works leaves us under no apprehension as to their
early completion, nor have we any fear that the expenditure
will exceed the capital. Our hopes and calculations on these
two points have not been disappointed. The whole line will
be finished two years earlier, at least, than the time allowed
us by the bill. We shall thus be enabled to diminish the
charge for interest payable during the construction of the
line, and anticipate the period when the dividends will be
Paid from the profits of the railway.
"The result will fully justify the manner of contracting
for the works which we selected. We have taken advantage
of the experience acquired in England in these matters.
Every doubt which existed as to success on the application
of this mode of proceeding, so new to France, has been com-
pletely removed by the energetic means which our contrac-
tors have employed—difficulties have been overcome, and
new methods introduced with perfect sucess.
" Upon this subject we feel called upon to contradict, in
the most formal manner, the incorrect reports which have
been circulated in respect to the want of harmony among the
workmen of various nations employed on our works. We
can safely affirm that, among the 8000 men now employed,
nothing has ever occurred beyond slight disputes, which it
is almost impossible to prevent among so vast a body of men.
They have never been of such a nature as to compromise or
even retard the execution of the works.
" In respect to the nature and solidity of the works, every
• Precaution has been taken in order that they may stand the
ttst of the most scrutinizing examination. They have been
adjudged according to specifications, drawn up after the
Most mature deliberation. An efficient staff of engineers has
been placed on the different portions of the line to watch
over the execution of the works in their most minute details.
" We have never had occasion, in any matter of import-
ance, as far as regards the works, to differ with the contrac-
tors: they have at all times, with the utmost promptitude,
complied with the orders of the engineer-in-chief.
The few accidents which have really occurred on the
line have o
havne been greatly exaggerated; they were perhaps inevi-
tablesuch a difficult and extensive line of works, requiring
Bo much rapidity in their execution ; but they were most
promptly attended to, and always at te charge of the con-
tractors.

" If these works have been adjudged on terms not hitherto
obtained here, be assured, gentlemen, that their solidity has
not been sacrificed to a false economy ; every means have
been taken to secure their stability, and to afford, at the
same time, perfect security in the working of the line. A
railway is of itself a great monument. Its splendour is to be
found in its utility.
" During the period which has intervened since our last
meeting, we have completed our contracts for the supply o
rails and chairs. The distance of the iron works is very
great; and the extraordinary dryness of the season, together
with accidents on the canals, have hitherto retarded the de-
liveries; but we have taken every means to secure the strict
execution of our contracts; and we have, besides, received
the most positive assurances that the whole quantity will be
delivered within the present year.
"The construction of the engines, carriages, &c., for work-
ing the line has kept pace with the works, two months ago
there was but one engine at work in the manufactory where
our locomotives are in the course of construction, at this
moment more than five hundred men are actively employed,
together with the most complete machinery ever yet in ap-
plication here.
" In fine, every part of our enterprise is in the most satis-
factory position, which we are greatly indebted to the powerful
resources you have confided to our care.
"The calls have been paid up with remarkable punctuality.
" At the period of the last general meeting, the receipts
amounted to 12,602,086 f. 23c. (£504,083. 95.) ; on the 30th
June last they reached 28,320,991 f. 25c. (X 1,132,838) ; and
at this present time they amount to 31,703,872 f. 35c.
(X 1,286,154. 18s.)
" We have not been obliged to have recourse to legal pro-
ceedings to get in any of the calls. Ninety-four shares only
have been sold, and these sales have generally been caused
by the death or absence of the party.
"Your example will not fail to produce a beneficial influ-
ence in the execution of great public works. In France,
complete justice was rendered to you in the chambers during
the discussion of the law on railways.
" Our monthly outlay has increased with the progress of
our works; and in the last six months of the past year it
has progressed from 1,200,000 f. (X 48,000) to 2,600,000 f.
(494,000), and it now reaches 3,500,000 (£140,000) each
month.
" The total amount of the expenditure is 27,428,591f5.
31c. (£1,097,143 12s). Although our resources are not yet
exhausted, we, nevertheless, thought it expedient at the
commencement of the year to make application to the minis-
ters for public works, for the return of our caution money,
and at the same time to pave the way by complying with the
various forms required, for claiming the loan of fourteen
Millions from the state. At this moment, even, we are
Pressing the ministers for return of the 3,600,030f5. (£44,000)
caution money, which must precede the loan of 14 millions
(69,000) return of 4-sths of the same has just been granted,
and it is perhaps owing to a greater respect for the letter ra •
tiler than the spirit of the law, that the whole is returned,
fur it is impossible for the government not to perceive that
our money would be much better employed in carrying on
the works than it is in the coffers of the state, that a secu-
rity is only of real use in guaranteeing the formation of an
association ; but when a company has already executed
Works to the amount of twenty-eight millions (£1,120,000),
the guarantee of a few hundred thousand francs must be per-
fectly useless.
" You may rest assured we do not lose sight of the period
When the payment of the loan will commence, and we have
too much reliance in the interest which the government takes
in our enterprise to have any fear or respect to useless delays.
" As our works proceed, we are better able to appreciate
the future resources of this undertaking, and we have every
reason to believe that our estimates of revenue will prove to
be as correct as are those of the cost of the construction.
" The Havre line is the necessary consequence of the Rouen
line. It promises a vast addition to the number of passen-
gers, and its construction will remove every doubt as to the
extent of the transport of merchandise.
" We have taken a prominent part with the government
and the chambers in obtaining the assistance of the state for
this line, and we may say that to the example of the Rouen
this Copy may be mainly ascribed the favourable terms of
bill. The common interest which unites the two corn-
Panics will continue to be the best guarantee for their mutual
co-operation.
" In conclusion. permit us, gentlemen, to refer back to the
origin of our undertaking. You will bear in mind that the
Law of concession dates from 15th July, 1810, some days after
we met in general assembly to examine the modifications
Made in the law and in the statutes, but a graver subject then
occupied and kept public attention in suspense. In the pre-
race of great political embarrassment you did not hesitate
° maintain the association. You had confidence in a better
futurity.
" You did not, for a moment believe that one of the beat
creations of a time of peace could possibly be suspended by
the mere rumour of war. By our energy and resolution,
- You gave us the first example how to overcome all difficulties.
This confidence was nobly responded to by your associates
(In the other side of the water. If we allude to the circum-
stance of the shareholders being of two nations, it is only for
the
Purpose of assuring you that only one feeling has always
animated them, although the object to be attained was a great
1;11,4 national work, the advantage of which would exclusively
og to France.
" On all occasions, under the critical circumstances which
bgtened our commencement, and in the progress to those
otte.r times which have now arrived, the English co-opera-
hog Ibis never flagged, we have received all that we could
rier for, the powerful assistance of its capital, and the be-
1t of its great experience.
Thus, nothing has been able to shake the first basis of
°,l-1r association : upon it we have been permitted to found
riof the most useful and beautiful monuments of human
activity,or. and to consecrate the noble alliance of the industry
mo great nations."

The CHAIRMAN again rose, and expressed his own I?pi
Atop that the report was most satisfactory. It was an im-
portent fact, and therefore he would state it publicly, there
was n ~
._ not a single director who now had the smallest doubt as
and
the line being completed within the first estimate of cost,
n..? within the stipulated time. He himself felt sure, not
they that the line would be completed, but that every part of
works, engines, stations, &c. would be furnished within

y the word exroriation"
'44.e tßhe land required for
the railway.
is meant the power to

n: ~, .r.