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1 correction by SheffieldPark - Show corrections

SOUTH AUSTRALIAN RAILWAY COMPANY.  

A Special Meeting of the Shareholders of this Company was advertised to take place within the Exchange   yesterday at noon, but the fact of an amalgamation with the Adelaide City and Port Railway Company

having transpired, the attendance was extremely limited. J. B. Montefiore, Esq., having been requested to take the chair, briefly stated to the few gentlemen present, that he was instructed to state some particulars of the amalgamation of the Company, represented by their Committee, with the Company represented by Mr. Parker. The only material points of difference between the two lines were to be discussed by the respective engineers, who were to endeavour to concur in recom- mending a line for the Committee's adoption. Mr. Parker's line included a Station for North Adelaide side, but Mr Green's line was entirely on the South side of the Torrens, until it crossed the river by means of an intended bridge at Bowden, as shown in the plan. The capital of the (amalgamated) Company was to be £50,000, one-half to be provided by English share- holders ; and as there would be a power to borrow £15,000, the colonists here, where money was so much in request, need not really contribute more than £12,000 or £13,000 of the required capital from colonial funds. He was happy to state that Mr. Parker had named as his two of the Local Board of Directors, Mr Giles and Mr Elder, and as the Committee, would of course elect two gentlemen in the colony, they would have an entire Colonial Direction. The Committee were to specify the line they intended to adopt, and then a call of 10s. or 12s. per share would be made, and he doubted not cheerfully paid. He might state that Mr. Parker, on reconsideration, preferred the line selected by Mr. Green for the South Australian Railway Company. Entertaining the best intentions, Mr Parker wished to go to North Adelaide, but finding the inhabitants averse to the establishment of a station there, he had the more readily concurred in the design which kept the line on the South Adelaide side. With respect to the North Arm, Mr Parker's views were, that when the exigencies of commerce "became   so excessive" that increased accommodation was required, the extension to the North Arn should take place; and they all thought so. He would only hope, in conclusion,   that the result of the Committee's labours would meet the approval of the Shareholders. Mr. Allen here asked the Chairman whether any guarantee was to be given as to the extension. Mr. Montefiore replied, that would be as the Legislative Council in its wisdom might determine. ' The Council must decide." Mr. F. S. Dutton moved, and Mr Newenham seconded, a vote of thanks to the Committee, and the meeting closed wilh a unanimous vote of thanks to the Chairman.

The strange reluctance of the North Adelaide people to be troubled with a railway station on their side, and the "excessive" conditions of extension to the North Arm contemplated by Mr. Montefiore, are facts too significant to be lost upon the colonists ; but as the Railway Bill will doubtless soon be laid before the Legislative Council, we purposely abstain from any further remarks or suggestions for the present. At the proper moment, however, we shall be found strenuously representing to the Council the justice they owe on behalf of the South Australian community to proprietors of maritime property, who, unlike those at the present shipping place, do not require thousands and tens of thousands from the Colonial Treasury.

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