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PEMBROKE AND TENBY RAILWAY.1

Rhestrau Manwl, Canlyniadau a Chanllawiau
Dyfynnu
Rhannu

PEMBROKE AND TENBY RAILWAY. 1 The nineteenth ordinary half-yearly meeting of the shareholders was held at the Town Hall, Tenby, on Thursday, the 25th ult. There were present-Mr W. Owen, Witbybush (chairman); Mr C. Allen, Tenby Mr F. L. Clark, Pembroke; Mr G. Mathias, Tenby Mr G. White, Tenby Mr Jonas Dawkins, Pembroke Dr Chater, Tenby Dr Mausel, Pembroke Mr L.id; Davies, Llandinam Mr Ezra Roberts, Tenby Rev. R. J. H. Thomas, Hodgeston Mr W. Hulm, Pembroke Capt. W. Rees, Tenby Mr W. H. Lewis, Pembroke- dock Mr Phelps, Tenby Capt. Wells, Penally; Mr Teasdale, Pembroke-dock Mr T. Thomas, Tenby Capt. James Cocks, Pembroke-dock Capt. Evans, Tenby and Mr Joseph Moore, Pembroke-dock. Mr Stokes, the secretary, and Mr Smedley, the accountant and traffic manager, were also present. Mr Stokes read the notice convening the meeting, and also the following report of the directors:—"The directors have the pleasure of laying before the share- holders a full statement of accounts drawn out in ac- cordance with forms required by the Act passed in the last Sessions of Parliament, entitled the Regulation of Railways Act,' and in referring to the various state- ments congratulate them upon the increased value of their property, as shown by the amount left available for division by the lessees. The report of the engineer shows that the permanent way, bridges, &c., together with the rolling stock are maintained in satisfactory repair. A Bill will be introduced into Parliament in the ensuing Session by the Whitland and Taf Vale Railway Company for constructing a railway from Whitland to the Crymmych Arms, in this county, and as such cannot fail to be a valuable feeder to your rail- way as opening oat a district in which a large traffic in lime, slates, lead, ores, and other minerals will be developed, the directors have given their assent to it. A Bill will also be brought before Parliament in the course of the ensuing Session by the Llanelly Railway and Dock Company, for obtaining, amongst other things, powers to use and run over your line, whicfi Bill will be watched, and, if necessary, opposed by your directors. Under the arrangement with the lessees a dividend for the past half-year at the rate of 5 per cent. per annum on the preference and ordinary shares becomes payable on the 25th of March next, and will be paid on that day at the London and County Bank, or the Bank of the Provincial Banking Company, Pembroke." Appended to this report were the financial statements showing the position of the company. The revenue account showed that the receipts during the half-year ended 31st December were Y,12,278 4a 3d and the ex- penditure £4,241 8s 8d leaving a balance of £ 8,036 15a 7d available for dividends. Following the accounts were the following certificates Certificate respecting Permanent Way, §c.—I hereby certify that the whole of the Company's Permanent Way, Stations, Buildings, and other Works have, dur- ing the past half-year, been maintained in good work- ing condition and repair.—J. W. SZLUMPEB, Engineer. —Feb. 17th, 1869. Certificate respecting Rolling Stock.-I hereby certify that the whole of the Company's Plant, Engines, Tenders, Carriages, Wagons, Machinery, and Tools, have during the past half-year, been maintained in good working order and repair.—J. W. SZLUMPER, En. gineer.—Feb. 17th, 1869. Auditors' Certificate. We hereby certify that the half-yearly accounts contain a full and true statement of the financial position of the company, and that the dividend proposed to be declared, is bona fide due.— ROBERT GREENISH, JOHN PHELPS, Auditors.-Pem- broke-dock, Feb. 17th, 1869. The Chairman said-As the accounts have been so lately in your hands, I think it unnessary for Mr Stokes to go through them, but if any of you wish to look over them we will wait a few minutes for that purpose. [After waiting a moment or two the Chairman con- tinued :] Since the last half-yearly meeting. the direc- tors of this Company, as well as of every other railway company in the kingdom, have been required by Act of Parliament to publish a list of the shareholders in the Company-that is, a list of the ordinary share- holders and also of the preference and debenture holders. That list is now with the Secretary, and if any of you wish to have a copy you can have one by paying a small sum, the fees directed by Act of Parliament. The directors are not only required to publish a list of the shareholders, but also the particulars of accounts. The object of that is no doubt a very good one; for the accounts will show whether the dividends declared are fictitious or not. The shareholders can now, by looking at what has been the expenditure and what the revenue, satisfy themselves upon that point. By exa- mining the accounts we have published you will I think have cause for congratulation (hear, hear.) We shall be very happy to give any explanation as to any of the items of accounts, but as you have the printed accounts in your hands it would be a waste of time for me to read them through. It would be well perhaps to ex- plain this, that so far as the capital accounts are con- cerned the directors are responsible to you for every item. Every item has gone through their hands, and no single item has been placed to that account except by them. So far, therefore, I think you may rest satis. fied that your property has been well protected (hear, hear.) So far as the revenue account is concerned, you know that the contractors—Messrs. Davies and Roberts —have guaranteed from that account a dividend of five per cent. upon the ordinary shares of the Company, and so much upon the preference shares and debenture stock, and^they have very liberally published their accounts and laid them before you (hear, hear.) We have no right to ask them for an account of their re- ceipts, but they have been no doubt anxious to show that their accounts and the dividends to be declared are bona fide (hear, hear.) The auditors have gone through the accounts seriatim, and have satisfied themselves that they are a true statement of the receipts and expendi- ture. That was done for this reason, that the contrac- tors were desirous that the Chairman of the Company should sign the accounts to fortify themselves. It was necessary that they should be gone through very care- fully before the Chairman put his name to them, cer- tifying them to be correct, and so far as we can see, they are correct. As I have said, the auditors have gone through their accounts, and before I put my name to them I had this certificate from the auditors :—" We hereby certify that the half-yearly accounts contain a true and full statement of the financial position of the Company, and that the dividend is bona fide (hear, hear.) It will now be necessary for me to call your at- tention to the increase of the traffic over your line. What surprises me more than all is to find that during the last half-year there has been an increase of 1,216 first-class passengers over and above the number con- veyed over the line in the corresponding half of last year (hear, hear.) That is to me very unexpected, for I had no idea that the first-class passengers would have increased to that extent. The second and third-class passengers have not increased to the same extent. However, the large increase in the number of first-class passengers speaks well for the prosperity of Tenby, for it shows that a class of people come here with money in their pockets to spend amongst you (hear, hear.) Well, then, as to the increase of the goods and merchandise traffic. The increase in these has been even more in proportion to the gross revenue than the increase in the passenger returns. The increase in merchandise has partly arisen in this way. You know we have entered into a contract with the Government to carry coals over our line to the Haven for shipment, and also to carry plates from Sheffield. Since that contract has been entered into they have had those things conveyed over our line, and consequently there has been an in- crease in the receipts of XI,683 as compared with the corresponding half of last year (hear, hear.) That was in goods only remember, (hear, hear.) I think I may congratulate you, and you may congratu- late yourselves, upon the improvement of your property —that your line is going on progressing (hear, hear). At the last half-yearly meeting there was a good deal of dissatisfaction expressed as to the running of passen- gers through from Whitland to Carmarthen, passengers coming through from the North of England having to stop at Carmarthen, to go the Junction, and change carriages there again before coming on to Whitland. That of course caused considerable delay. We then ex- plained that that arose from circumstances over which we had no control. Since then we have made an ar- rangement with the Great Western Company, which pro- hibited us from carrying passengers between Whitland and Carmarthen. Now, however, we are in a position to be more independent, and we have given them notice that we are not to be prohibited much longer (hear, hear). We have given the Great Western Company notice, and from the 1st of May passengers will be able to go from Tenby to London without getting out of the carriage, and also to Liverpool and North Wales, and in fact all over the kingdom (hear, hear). The whole country will be open to you (hear, hear). I think you gentlemen of Tenby ought to be very proud of this, for it is certainly a matter ot congratulation to you (hear, hear). Let us be quite independent and free, and we shall be able to afford greater facilities for travelling. We shall be in a position to offer greater facilities to passengers travelling to the West of England, as well as to the whole of the Northern districts (hear, hear). And now I must tell you that a bill has been introduced into Parliament to make a line of railway from Whitland through the northern parts of Pembrokeshire to a place called the Crymmych Arms. Notice to that effect has been served upon this company, and the directors have not hesitated to grant their consent (hear, hear.) No doubt that railway will add to the traffic over the Pembroke and Tenby line but the traffic that they will get from our line will be much greater than we shall get from theirs. We can- not of course expect that the traffic in slates from their line will be so great as the traffic in lime from this line (hear, hear.) However, we are very happy to afford every facility we can to improve railway com- munication through the country (hear, hear.) Another bill, I may tell you, has been brought before Parliament by the Lianelly Railway and Dock Company. That company attempts to make great encroachments upon the Pembroke and Tenby line. They want to go so far as to run over our line without paying anything at all for the accommodation (laughter.) Of course we cannot consent to that, but have determined to oppose the bill before the committee of the House of Commons. We are not obstructives, and du not want to prevent any traffic from coming into the country, but we cannot stand, or rather, I should say, we cannot sit down and leave any advantage go from us (hear, hear.) And now, gentlemen, the only part of our report about which there is no difficulty and to which there can be no objection, is that part which says you are to receive on the 25th of March a dividend of five per cent. upon the ordinary shares of the company, and also upon the pre- ference shares and debenture stock. There certainly can be no objection to that (laughter.) I now move that the report be received and adopted. The motion was seconded by Mr Clark and agreed to unanimously. Mr Clark moved that a dividend of five per cent. be declared upon the ordinary shares, the preference shares, and the debenture stock of the company. This was seconded by Mr G. Mathias, and also unani- mously agreed to. Capt. Wells-I think, looking at the report and the chairman's statement, that the proprietors cannot but be satisfied but there is one thing I want to ask. I should like to know whether it is intended to improve some of the stations on the line. The one at Tenby is any- thing but what it ought to be, and you must admit that the Tenby station is a most important one (hear, hear.) The Chairman-I quite admit that the station at Tenby is not what it ought to be, but you must remem- ber that in the first place the line was run upon the lower level, and if we had built a passenger station there the building after the line was opened to Whitland would have been so much money wasted. There is a great deal of excavation and work to be done where the new station is intended to be, and there is not sufficient space there to make the fine station we :intend to make at Tenby (hear, hear). Capt W ells-That is almost the same answer as I have had for two or three years. The Chairman-Have you any complaint to make of the station at Penally ? (Laughter.) Capt Wells-No; but we want a siding there, which I hear we are going to have shortly. Mr Dawkins-I have heard that we axe to have a sta- tion at Kingsbridge-road instead of the present station at the upper end of Pembroke. I think it would pay this Company to build such a station, for people have so far to walk to the east end to be taken on to Pembroke Dock, that they say, Well, as we have so far to walk to the station, we may as well walk to Pembroke Dock." (hear, hear). I know many persons do so and am sure that if a station were built nearer the west end the Company would be benefited (hear, hear). The Chairman-The directors have done all they could. As you are aware they have gone to the expense of an Act of Parliament, in which powers for erecting a new station at Pembroke were taken. They were obliged to do so for they were opposed by the people of Pembroke—the owners of the land—who asked exorbi. tant sums for their interest. We felt at first that the present station was not in the great thoroughfare but we met with such oppositions from the people of Pem- broke-I don't say that Mr Dawkins was one of those who opposed us, but he knows that we did not have much encouragement from the public body; and in fact we met with so much opposition that we were compelled to put the station where it is (hear, hear). If it had not been for the Pembroke people the station would have been down in the main road Unfortunately there was an omission in the Act of Parliament, and we have had to take fresh powers, and when we have more money you shall see the station at Pembroke in a better place (hear, hear). Mr Dawldns- I will now repeat the question I asked some time ago about the continuation of telegraph wires from Tenby to Pembroke Dock. It would not be of much advantage to me, for I should not use it much, but to a large number of persons in Pembroke and Pem- broke Dock it would be of great advantage. The Chairman-That is entirely a matter of pounds shillings and pence. If you can get up a little company at Pembroke and Pembroke Dock, and induce the people to take a sufficient number of shares for the pur- pose, we should be very happy to allow you to lay the telegraph wires over the line. That is work that the railway company cannot undertake. Mr Dawkins—It must be done by a private company ? The Chairman—Yes. Dr. Mansel-Have you contemplated a site for the new station at Pembroke. The Chairman—We have power to take ground down by the main road. Mr D. Davies-We have bought the land and paid for it. However, I may tell you that I took some very great authorities from the north to look at the site, and they were of opinion that it is not the best place for the station. In fact they think the present station is in the best place. The station down by the main road would be on a high bank, and people would have to go up a flight of stpp3 to get to the line. Still, we intend to build a better station at Pembroke, and are only wait- ing to decide whether the present or the new site is the bes Mr Clark-No doubt the inconvenience Mr Davies mentioned would be very great but the question is, whether the saving of ground in walking to the station would more than counterbalance that inconvenience. (Hear, hear.) Mr Davies—You might shorten the distance to the present station by making a road at the bridge, thus cutting off the angle. Mr Dawkins-l have no interest in the matter, but simply speak in the interest of the people of Pembroke, who are at present greatly inconvenienced. Mr T. H. Lewis-I think Pembroke Dock should also have some consideration. It is the most important place you have, inasmuch as the great increase in the traffic on your line is due to Pembroke Dock and the Dock-yard. (Hear, hear.) I think we should have a better station there, the present being very paltry and altogether inadequate to the requirements of the town. If there be any possibility of improving the present station, I am sure it would be of great advantage not only tothe inhabitants of Pembroke Dock, but to the Com- pany as well. (Hear, hear.) I have little to say about the station at Pembroke, but I think, if it be possible to move that station nearer to Pembroke Dock you would have more passengers travelling over your line, and the increased revenue would in a short time cover the expense of moving the station. (Hear, hear). I do not know whether you intend moving the station at Pembroke-Dock into the town, or leaving it where it is? The Chairman—Our Bill enables us to go to Hobb's Point, but whether we shall take the line to the Dock- yard, or down the other way, has not yet been deter- mined upon. It would, therefore, be a waste of money to build a passenger station at one place, and after- wards move it to another..That is the only reason why the passenger station at Pembroke Dock has not been completed. Mr T. H. Lewis-Then you think we shall have the line extended to Hobb's Point in a short time, and that passengers will be taken there ? The Cbairman-I think so. Mr Teasdale-If you were to make a stage for ship- ping coal there, we should have the line-of-battle ships there [hear, hear.] There has lately been an order from the Admiralty to take soundings at Newton Noyes with the view to coaling vessels there, but it has been stated that there are only seventeen feet there at low water therefore the vessels will not go there. If we were to provide a stage, we should have them to take coal at Pembroke Dock instead. Mr Clark-I presume there is as much water at the pier as they have at Neyland. Mr Teasdale-There is plenty of water at the pier at all states of the tide. We only want a stage. Mr D. Davies-We have only twenty-seven miles of railway, and seeing that large companies are coming here, it is too bad that they should not contribute towards the stage, and other works required for the traffic. If those with 200 miles of railway come here and reap the advantage, it is too bad that the 27 miles should go to the expense (bear, hear.) That is why we have been holding back. We don't want to damage the ordinary shares, though we have not now so much interest in them as we had, because we have sold a lot of them since the last meeting. There are, therefore, others whose interests must be considered besides our own. Mr Barrow is a large shareholder, and it will be necessary to consult him (hear, hear.) I thought he would have been here to-day, but particular business calls him to London, or he would have been here. I do not feel so free to speak as formerly, but those are my views on the matter. Other lines are coming here, and of course they will be interested in getting the traffic on that side of the Haven. It would cost us L15,000 or Y,17,000 to take the line to the water for mineral traffic only. The Chairman thinks it should be a passenger line as well, but on that point there is a difference of opinion. I don't think people would like to go to Hobb's Point and then walk back to the town. I don't think we want to make that a passenger line. The Chairman-We want both. Mr Davies-But I don't see that both will pay. If you see your way out of the difficulty, well and good; but I think you must have the passenger station in Pembroke-Dock. Mr Teasdale—I think a passenger station at Hobb's Point would be no good. It would be worse than the station at Pemlroke. People would never walk from Pembroke-Dock to Hobb's Point in order to be taken to Pembroke (hear, hear). The Chairman—I don't think there is any occasion for a passenger station at Hobb's Point, but I think it should be a passenger line, so that persons coming from Neyland might get upon the line at once (hear, hear). Mr Teasdale—The line would be useful, for we might perhaps get some persons to start a couple of steamers to Ireland. Mr D. Davies-With regard to the station at Tenby, I might state the reason why we have not built a per- manent station there. It is our intention to cut that lump away by the present station, and make a flat and good road into the town. I expect that the rock will be cut away in about two years, and then I think the company will be in a position to give the people of Tenby the fine station they deserve. I don't say this because the people have subscribed so liberally in Pem- brokeshire towards the line (laughter.) I think we could afford to have one station every year but now as the great companies are coming here they will no doubt build fine stations. We have spent all our money, or I should be very happy to see better stations but I must look to my pocket now a little (laughter.) I should be very happy to see fine stations, and I have no doubt you will have one here. Tenby is a very fine place, and no doubt a fine station will come here in time, and to other places as well (hear, hear). Capt. Wells—I thought it would not take two years to cut the rock away ? Mr Davies-Yes, to cut it and carry it away. With regard to the increase in the goods and mineral traffic, the Chairman has I think overlooked the fact that a very large portion of the receipts has been from the lime sent over the line. There has been a greater in- crease from the lime traffic than from coal or any other traffic. The Chairman-I thought I did speak of lime but, however, the increase has arisen from the carriage of merchandise of all kinds. Mr Teasdale-No less than four thousand tons of shipping have gone from Pembroke-Dock to Car- diff, because we have no facilities at Pembroke-Dock for the shipment of coal. Those parties would have been very glad to have come to Pembroke-Dock if they could have been accommodated (hear, hear.) The usual votes of thanks to the Chairman, directors, and officers of the Company brought the proceedings to a close.

DISSENTERS AND THE IRISH CHURCH.I

MR GLADSTONE'S IRISH CHURCH…

MAESGWYNNE HOUNDS.

[No title]

THE WEEK AT HOME.