RAILWAY INTELLIGENCE.
LONDON AND SOUTH-WESTERN.
The report of the directors to the shareholders for special general meeting, to be held on July 3, states that they have deemed it necessary to call their proprietors together, to consult with them on the question of the proposed purchase of the railway between Petersfield and Midhurst.
This line was authorised by Parliament in 1860. It is 10¼ miles in length, starting from the Petersfield station on the London and South Western (Portsmouth) line, and running eastward to Midhurst, where it unites with the Mid-Sussex lines, which are in the hands of the London, Brighton, and South Coast Company. The capital authorised by the Act of Incorporation, 23 and 24 Vic., cap. 173, is £100,000. The shares of the Petersfield Railway Company are to be transferred into the names of parties nominated by the directors of this company; and the directors of the Petersfield Company will concur in the appointment of a board of directors, nominated by the South-Western Board. The sum of £18,040 being paid for the shares already issued and for the works executed under the certificate of this company’s engineer, together with £8,000 to the directors of the Petersfield Railway, in discharge of the liabilities of that company, other than those under the contracts for the construction of the line—the last-mentioned sum being paid, the one half at the same time as the £18,040 before-mentioned, and the other half on the approval of the Board of Trade on the completion of the works.
The works have already been commenced, and the contractors are prepared to push them on with rapidity, and to complete them in a year’s time. The line is to be constructed for a single line of railway, but with land and masonry for a double line should it hereafter be found necessary, The contract for the whole of the works, land, &c. (stations alone excepted), has been taken on terms which will make the total cost to this company (including the above-mentioned sums of £18,040 and £8,000) £106,000.
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