DUNEDIN AND PORT CHALMERS RAILWAY.

Evening Star, Volume IX, Issue 2788, 24 January 1872, Page 3

DUNEDIN AND PORT CHALMERS RAILWAY.

(jVeio Zealand Loan and Mercantile Aycncy Circular.) The first general meeting of the shareholders of the Dunedin and Port Chalmers Railway company was held at the offices, 50 Old Broad-street, London, on the first of SfoTCmbCr, Mp R, Porter in tfie chair. The following report was read j The directo s, owing to the short time that has elapsed since the formation of the company, are unable to present to the shareholders, on the present occasion, a regular report and statement of accounts.. A. balance sheet duly audited will be submitted at the next general meeting, which, in the ordinary course, will take place in the month of November, 1872, They are, however, able to state shortly, that the arrangements contemplated by the promoters of the company for procuring the necessary capital for the construction of the line by the issue of debentures, have been successfu'ly carried out, and that the progress of the railway towards completion has been satisfactory. Jt will be necessary on the present’ occasion to elect auditors —one for this country and 6ae for the Colony. • = After the election of Mr F. Lark worthy and Mr L. 0. Beal as auditors, The Chairman said the object in calling the meeting so soon after the formation of the company, was merely to comply with the Articles of Association of the Company, and, as the report stated, tho usual statement of accounts would be presented at their next meeting in 1872. Sufficient time bad aot yet elapsed to enable the Directors

to receive a return advice from the Colony relating to the formation of the company He trusted the Directors would be able at their next meeting to inform the shareholders and debenture holders that the contrac ers had fulfilled their contract, and that the railway was answering the expectations entertained of its success. The contractors reported that the r orders for the construction of roads, locomotive, and rolling stock were being rapidly executed : that a portion was being supplied at Cardiff, and that the remainder would follow' shortly. In proof of the willingness of the contractors to interp’ et their contract rather in the spirit than in the letter, the Chairman mentioned that they had resolved to send out four carriages and forty waggons more than the contract provided for, and that they had also bought the material for a line of telegraph, to serve, in case the Railway Company should be unable to make a sati • factory arrangement with the Colonial Government for the use of their line. Ihe progress of the works in the Colony was very satisfartory ; and, if any delay were to occur in the completion of the Hue beyond contract time, which he trusted would be avoided, it would probably be in the delivery of the rolling stock in the Colony. At any rate when completed, the line would be a del one, en the Fairlic principle, and one the Fiovince to he proud of.