Proposed Ship Canal Betwe...
A general Alecting'of the Subseribers to this undertakling war held on T'hursday, at the London Coffee House, Liudgate-hill, for the purpcse of receiving Atir. Teltord's report. Mr. DAVID POLLOCCK mroved, that John Benctt, Esq., I.P., take the chair. MIr. BENETT having accordirngly taken the chair, expresoed his regrbt that tlhat duty had not devolved upon abler hands. He read two lettere-one from Lord Rolie, and the other from Sir Thomas Lethbridge, each apologizing for the absence of the writer, and ex- pressing his best wishes for the success of the undertaking. The Chairmnn said he would now caU the attention of the mueeting to the very able and luminous repDrt of Alr. Telford, and also to that or Captin Nicholls, who had assisted Mr. Telford, as nautical sur. veyor, on the occasion. The measure had now the most encourag- ing prospect of success, and the present was a pecuiliarly propitious noment for bringing it forward, when it waS only necessary to refer to the effects of the late gales to excite the strongest feelings in its fal'our. Ir was an undertaking worthy of the tinues and worthy sf the count,y. In rererence to subscriptions, the meeting might expect a very large atoeunt, in consequence of the favourable nature of aMr. Telford's report. Lord Rolle had not only proposed to give his lharbour, but such part of his land also as was necessary. (Hear.) 'When the reports were read, the meeting would find that there was every encouragement to enter upon tlhe undertaking witb spirit. The report was then read by Alr. KING. It ran to considerable length, setting forth all the particulars of his survey of the intend. ed line of canal, wYhich is to commence at Beer harbour, and termi- nate in 5rt extensive basin and artificial harbour, at the soutlh-west angle of Bridgewater bay; the distance from one extremity to the other being 44 miles. The report estimated the expense atl 712,8441. and was altogether extremely favourable to thc practicbility and advantages of the undertakiny. A long abstract from Captain Nicholls's report was then read. After describing the great advantages which vessels would derive from) the projected harbours, to be formed by constructing piers, &c., particularly that at Beer, as an asylum harbour was so much wanted along that li%ebf coast, the report set forth several calcula- tions according to which, although appar-ntly niade upon moderate dlata, the tonnaKe estimated to pass through the canal annually was computed at 1,095,527; and the clear annual incomne applicable to a dividend amongst the proprietors, at 210,84t6. 12s. 4d. Alr. POLLOCK} said, that the meetingp was now ripe for alopting some resolution, founded on Hlr. Tellbrd's report. He trusted that they would be of opinion, from those united renorts that the com- mittee had well p!rtormed their duty. He moved a resolution, ex- pregsive of the meeting's satisfiactio, fromil the report or AlMr. Tel- ford, of the practcability of constructing the proposed ship-canal. The resolution-being seconded, weas carried unanimously. Alr. POLLO(:1 next drew the attentioer of the meeting to the latter report, and observed that the calculationsa of Cnptain Nicholls as to the toniage. were singularly corroborative of the calculations which had been made by the Committee. The Committee had rated them at 1,154,000 tons, and Captain Nicholls at 1,095,000 tons. No gentleman would nowv dispute that the undertaking woultl be abun- dantly beneficial to the subscribers; and every line of thosereports proved that it would be beneficial to the country at large. The learned gentleman moved a rcsolution to that effect, wlhioh was adopted without oppositiol. The CIIAI RaAN, at the suggestion of a subscriber, here read a letter from Captain John Locke, the East India Director, con- tainjing a high eulogium on the ciaracter and talents of Captain Nicholls. Mr. POLLOCK observed, it waS now necessary to take 31eps to carry the result of the preceding resolutions into effect. The Committee had abstained from applying for subscriptions until Mr. Telford's report should be received, as the practicability of the un- dertaking might be doubted until then. Notwithstandling this, nearly 370,0001. had been subscribed towards the capital of this con- cern; but still a very large sum remained to be raised: and under the standing orders of Parliament, they could not applv for a bill until they had raised two-thirds of the necessary capital. He con- eluded by moving that subscriptions be received until they amounted to the sum named in Mr. Tclford's estimate. Dr. PALMEst described thc feelings of the various men of fortune through whose estates the canal was intended to pass, all of whom, with only two or three exceptions, were most anxious for the rnea. sure to be carried into effect. Alr. Pn;E, of Bridgewater, went into calculations to show that 500,0001. a vear would be protluced beyond the sum estimated by Captain Nicholls. A farthing a ton would pay more than the interest on the capitnl. A proposal from Mr.BiooXE topost one the application to Parlia- ment until next session, gave rise to a discussion, in which it was stated by the Chairman that an offer had becn made from the Stock- Exchange to ta'ee the whole of the remaining shares,.of which there were altogether 17,500. r4r. Brooke ultimately withdrew his sug- gestion. fr. FRAMPTON observed, that the present intended line was de- cidedly objectionable to iMir. Tucker and himself. He was lord of the manor of Axminster, and the projected canal would cat off his house altogether feom the main land. If, therefore, the line were not altersd, Stir. Tucker and himself would be obliged to appose it by every rmeans in their power. The CssAIst2AN said, that every attentiOn should be paid to the subjectof the honourable gentleman's objection;* but he thought he must make it before the Committee of the House of Commons. The resolution was then passed; as also another directing an ap- plication to be made next session to Parliament for a bill to carry the measure into effect. The powers of the present Commnit".e were continued; the reports were ordered to be printed and circulated. Thanks wezevoted to the Committee, Alr. Telford, Captain Nicholl4, and the Chairsan; and the mneting adjourned. PROPOs5D SKIP CAVArA BETvBEEBT THE EBArG LISI AND BRISTOL CHAXNELS.