The Express. — London, England, 1851-08-30 00:00:00

MONEY MARKET. (Fo► Ws day's City Naos, see Sth page.) FRIDAY EVECING. This was settling day in the shiroMi;riet,l)Mno feature of interest remains to be reported, most ofi the accounts being carried over or closed yesterday or the day before, and the final liquidation of the balances only remaining for to-day's transaction. In the market for foreign exchanges to-day sellers again predominated; and, though there was no great upward movement, the highest rates of last poet were nearly maintained. Paris was a shade lower, short being quoted 23.71 to 10; and 3 months, 25.25 to 271. Amsterdam was not in demand, and closed 11.181 to t. Many houses were anxious to draw short, but in most cases found no takers. Hamburg was taken at first at 13.81, but closed hardly so well. For bills on Italy scarcely any moneycould be found, and several amounts on Leghorn, Naples, Messina, l and Palermo remained unsold. St. Petersburg was quoted 37 to I. Spain and Portugal remained u last post. Vienna and Trieste were scarcely dealt in, the quotation being considerably higher, at from 12 florins to 12.10. The rates negotiated are as follows: nice. Prick negotiated. Trost To Aramterdara Die C Short Ile. 1:1a..... 11.1. Disk. Ditto Rotterdam' liiionbus a and Alton' „ „ 13.04m.11,4eh1. 13ink. 1444111. Trkkfort-on.tbialtals" " „ 1191 S. 0ar.... 119 Di. Vienna ....--. " „ VI. Otr. ~. 1311. 14kr. That* " l2ll, 4kr. ... 1211. 1011 r. Antwerp Drum. I. - „ 23:r. 23e. ... 251 r. 3 , 1 c. Oheet lark Short 2319.7 k. .., 33k. 10c. Ditto ~ _ „ „ 3 liloathillfr. 23e. ... 231 r. 27k. Hare • ... „ „ 33tr. 21e. ... 23k. 30e. Dorde-tut....... - 131 r. 30e. = Ilia" „ 290. 3kt5.... Mfr. 31k it. „" ~ 231 r. tete-. 211 r. 30cts. Genoa Fprence ........ ... _ .., , „ 301 r. 13 eta.... 30Ir. :AM 14apice per diteat „ VI peace ... 41 peace ralenno per MUM . 123 prove ... 121 pence Dewing Madrid lee {Qat : 492 ix nom ... 4 pence Cadiz " „ 30 pence ... 30 9 1 peek Direclona 491 per.ce ... 49 penes LiISMI pee irilral „ SI pence .. 3,1" penes 0 1. 1 r t, • at. Petewburg, .. pee ruhla „ 37 prim ... 374 pence The account of the position of the Bank of Eng land for the week ending Saturday, the 23rd of August, published pursuant to the Act 7 and 8 Viet., c. 32, is as follows : BAN 071, 2401.1.4 D.—Amore to the 'reek ending Avg. !Mill •SPAST. ZIT. 111.310. Wool 1 .62A1D0 •1 mernmeet AII.CANISO AAA. Kocuritt a..... t.9 4 1.1M1N cok. we I lsoilloo 13.W.= &us Hulltoo ........ 33.378 127.613.616 IPARTIMII. tinvo-nment Oolnitreg &Owl. /hut Weed. Asuutt.7l. £13.414316 Kiley :krettrititai Uo N' tranii iiiiiiiiiiiiiii 7d 4.634 07.f43,190 Crum' Clise . I 3,25T.400 retai ......... L. a. 4 As.roto ) 71 0 1,08/ Olher Nato-440a I..tlew Nal 1,322,007 •uz. VI, IRZL MUL L W. A VISUAL! Chlet Crew, The above returns, when compared with those for the week preceding, exhibit the following changes: Circulatom issue L27,623.190 Inrreuse 1.79,284 Circulation active 19,74.5,140 Decrease 386,335 Publie deposits 7,161,11.44 Increase 767,433 Other deposits Government securities in banking department 13,464,216 Without alteration. Other securities in banking department Coin and bullion in both department Seven day and other bills— 1,322,007 Inert rise 4,939 The Kest The Reserve 8.482, 6 6 locoman 137,360 The increase of 51,023/. in the bullion is the more satisfactory as statements have been in circulation for the lust two or three days to the effect that a decrease might be expected in view of the continued " continental demand," the large arrivals of specie which have taken place being apparently left out of account; and the heaviness of the stock markets is understood to have been assisted by " bear " opera tions, partially founded upon these anticipations. Even had a small fulling off been presented, how ever, it is not easy to see what well-founded unfa vourable deductions could have been drawn from such a fluctuation, more especially at this season. Acconling to the official returns published in the Gwatte of last Tuesday, the total note circulation of all the private hanks of England and Wales during the week ending the 16th of August last, was 3,217,698/.; in the week preceding the amount was 3,284,4301. There is consequently a decrease of 36,532!. The note circulation of the joint-stock banks during the same week was 2,593,6311., and the previous week's return being 2,392,239/., the increase is shown to be 1,4121. On taking into consideration the active circulation of the Bank of England, which in the week in ques tion was 20,131,4831. (being 19,9001. less than the week preceding), we find the aggregate note circula tion of England and Wales to be 23,973,0341., which shows on balance a decrease of 33,0201. as compared with the returns for the precious week, ending the 9th of August. As regards the fixed issues, the private banks were 1,438,7771., and the joint-stock banks, 816,3361. be low the amount authorised to be issued, making a total of 2,273,113/., below the fixed amount. In the midst of rumours that bullion was leaving the Bank of England and the country, and in con formity with the fact that our supplies arc very large, with no extraordinary continental demand, the mercantile interests will not be surprised to learn that the bullion market is decidedly flat. Notwith standing the decline in the market on Tuesday, pur chasers were unwilling to come forward, and bar silver (without gold) was offered at 38. ld. per as., without finding takers; and Mexican dollars sold at 4s. 1114, being the lowest prices since September of last year, when the silver crisis began. The price of gold yesterday at Pans was 4 per milk discount (new tariff rate), which, at the English mint price of 31. 17s. 101 d. per ounce for standard gold, gives an exchange of 23.07, and the exchange at Faris on London at short being 23.07 1 it follows that gold is about the same price in London as in Paris. By last accounts the course of exchange at New York on London, fur bills at 60 days sight, is 110 per cent., and the par of exchange between England, and America being 109 23-40 per cent, it follows that the exchange is nominally 0.42 per cent. in favour of England. Upon taking into consideration the difference of interest and charges of transport wo find that the present rate leaves scarcely any profit on the importation of gold from the United States. At Paris yesterday the rate of exchange on Lon don slightly declined, the market being, as we lately reported, weak. No change has taken place in the prices of sovereigns or other bullion, but the French stock market is low, through orders for sale from London. The latest quotations of exchange at foreign places on London are as follows :- Previous Latest Quotations. Quotations. Alexandria Aruslossissa. abort Ditto, 2 maths Antwerp, sleet 2.5f. 121 25f. 121 inebly, 6 Meths, do etioast Charleston lO91 hl 1091 Calcutta, 6 Meths, do aussat li 2s. I fd. lid. 2s. ld. led. Frank It, Genoa, 3 months 261. 251. Milan, 3 months Naples Ncw York, socisys.• 109 1 .10 110 f Paris, short Ditto, 3 months Nome 484 484 Trieste Venice Vienna - --- The following are the rates at which the Bank of Australasia, the Union Bank of Australia, the South Australian Banking Company, and other parties, grant bills on places in the colonies : Adelaide Auckland lO2 SP Bathurst Geelong Hobart Town lO2 /I Launceston lO2 .r. 4ttelton lO2 ~ Maitland Melbourne Portland 4 Sydney lO2 103 ~ i Wellington THE EXPRESS, SATURDAY EVENING, AUGUST 30, 1851. Herr von Beast, director of the mines of Prussia, who visited Spain last year, has presented a report to the Geological Society of Berlin on the state of the mineral and metallurgical productions of Spain, from which it appears that the quantities of those I. products in the years 1849 and 1850 were approxi ately as follows: 200,000 mares of silver; 600,000 le quintals of lead; 9,000 quintals of copper; 22,000 quintals of quicksilver; 500,000 quintals of Rig iron; lal 250,000 quintals of bar iron ; 1,000,000 quintals of SI pal: which products were obtained from 8,000 st. sines by 50,000 workmen, the number of animals (principally mules) employed being 8,000. The ; raise of all the products amounted to about as 1100,000,000 real*. TRAFFIC RETURNS FOR THE PAST WEEK. Nem 0 Mhirm Reeewpt►. I 1,3. 18,51. 72 !Aberdeen 37! Belfast and Ballrooms 17 Belfast and County Dawn 33 Birkenhead, Larse.,l6 Clieddro 261 Blackburn 8. Bristol and Exeter .. 189 ICaledonian• 94 Chester and Holyhead 6 Cork, BLickrock, sad Presage 49 ! Dublin and Belfast Junction 61 !Dublin and Drogheda 6 Dublin and Kingstown 16! Dundee. and Arbroath 31 Dunclee,Perth,Aberdecn June. 19 Dundalk and Enniskillen 68 East Anglian} 79 East Lancashire: 322 Eas..ern Counties and Norfolk 91 Eastern Cnion. 1,733 ' L I 713 St' 291 44 1,659 13 4 809 1,1 1 6,033 s , 9,499 17 6,1)60 II 200 14: 691 at 1,150 964 3. 590 lej 743 1151 18l 4,00- 4 1 4,736 r 13,208 14,795 to :2,4561 2,528 at ,1 4,160 4,047 SO 2,861 2,832 4° I 82 16 St. 39.- 5 425 si 3,505 4,923 18.1 5,701 4 14,783 10 4,526, 4,977 ft.l 17,066 21,052 2 4 - I 155 w s,cm. 6,515 17,604 16,128 OR !I 1,2.5. 1,236 30 1 269, 631 10 48,925 61,178 it 1,200 :1,603 10 12,610 14,149 to 12,977,18,053 N 124; 178 31 .• 207" 245 IR 6,440 8,048 a 382 556 9 : 647, 721 10 24,262.23,651 $5 1,264 ,2,064 6911 855 2,549, 2,578 le 3,975] 4,609 19 5,0971 4,895 30 6411 1,038 9 .. t. 2,013 2,346 ; 631 812 2 9 , 701 647 16 1,639 1,789 ... 455 617 50 2,074 2,171 20 16,89. 1 20,084 1,089; 1,510 1 9,9 1,0821 1,288 4.3 2,361 1 2,137 18. 8101 802 ' , - 315 . 308 321 231 202 L 15,422 16,081 NJ , 10,610 11,004 Edinburgh and Olaagow Edinburgh, Perth, & Dundeq E 2 eter aud Crediton Furness Glasgow and South Western Great Northern& E.Lincolnsh Great Southern & Western(lr) Great Western Irish South Eastern Lancaster and Carlisle Lancashire and Yorkshire Leeds Northern Liserpool,Croshy, & Southport London and North Western London and Blackwall London, Brighton, and S. Coast London and South Western Londonderry and Enniskillen Man., Bunton, & Matlock, &e. Manchester, Shell., & Lincoln. Manchester and Southi unction INlaryport and CAW., Midland I?lidland Great Wcstcm (Ire.; Newcastle and Carlisle North British North Staffordshire North Western. ISeottioth Central. Scottish Midland Shrewsbury and Birnd Shrewsbury and Cheater Shropshire Union South Devon ISout!k Etta!ern South Wales South York Doncaster& Gool 'ad Vale Ulster Waterford and Limerick Wept Cornwall Whitehawn Junction York, Newcastle, and Berwick York and North Midland 16 7 2 1 571 63 336 1341 240 2,050' 2,659 3,090 3,394 3,7411 1,583 le 1 0 6 10,8414 960 24,416 01 3,279, 4,9 - 5 6,994.13,071 50 7,988 9,004 8,627. 9,152 5,003 7,910 ss 3,794 1,837 n 1,456: FonrioN. Amiens and Boulogne Central of France Dutch Rhenish Montereaa and Tier. Northern of France Orleans and Bordeaux Paris and Lyons Paris and Orleans Paris and Rouen Paris and Strasburgh Rouen and Barre I.Tours and Nantes • The returns include the traffic on the Glasgow and 1111 Greenock, and Glasgow, Darrhead, and Neilston. 14 t The East Anglian is now worked by the Great Northern Company, and the traffic returns are furnished to us by the to Great Northern Company. 20 East Lancashire. The return includes the gross traffic at the increased rates charged in anticipation of the arrange- 30 meet with the Canal Company being completed, and after 30 deducting only toll payable to other companies; the toll u payable by the Southport Company is not incleded. The cause of the mileage for 18:)0 being greater than 114 1841 is that, since the opening of the ferry scram the Tay, as the traffic has been sent over the Dundee and Arbroath e i from Droughty to Dundee, Instead of by the company's -• own steam vessel direct from berry Port-on-Craig to Dun dee. As the amount of the traffic to be received by this sampan) under a recent agreement with the Scottish Cen tral and other companies cannot be aseertaine4 till two mast hence, the usual weekly return is necessarily post- The return is made without reference to the divi , ion of traffic under the agreement with the Scottish Ceti teal and other companies. LOCAL SHARE MARKETS. Lrraarooh, Avo. 29.—n0 market continues in a very all depraved Este, and quotations anal Inver. The trovactiona are: b, Lincsehiro and Yorkshire, 4 i—lamis Iketharn (Ids Leeds and ib• Thirsk I, 91—Lieerpool. Crosby. szd Ilunlipart. 34 cl—Leadaa and bb North Water's, 1111 Ditto (Nera n dires), 111 I p—Naneheater, Shrilled, and Listoin, 24 811—Ditto (i-sbarss), 211 3.16 d.—Soatk Mrat e ra mat Dow. 1 i 1 i i I—Yak sad North likliand, 161. 1M 61 11.ascwzroa, Avo. 29.— TM slarkst was *lst fa the e t , bet teemed. the due als ale tear hays pm a shads . lbw hr bra a Mir Meat ad lili let- ii , tit, 5 sal limakmama ammawAs..l.s p.—lasawa at. Omar. 3i—Lvaasa sat Newaswas esss,l i r.—isat imeemke, a t . at I i e—Mssema meek, Us _I I—Lesis, 1 . - g Dosars, 191 I I 7.16 6 O.—larks mad North Wolin Mork, 1 3 . Liaos, Ave. 29.—Tawe have al' • market, and at. we kw hapra Maras aye been dem at a &ease upon II Arism ih e y • tits wasiatlons w.ll show :—llldland hi sect, ea ....Ism lassmalsw. 12S as div.—Lanesshirs sad IS Yorkshires 4 —ausailliwisra md.Damr. loi —York sad North Mid. 6 Mods, we sadly. M. IhnittliaM•lll, Ago. 29.—There was a poor market here Is today, la pram did .at med.. Qmotstions the samosa yesterday. ta. BOOM:M. Ave. 29.—The market has shown more 19 activity, priszlielly as aestiont of hoiden subautdaa to lower prkea . Groat Masons WM demsdartaa the day at 731, bet suttee= • =rWiden &v. Masada missal at 391 is die. East a ll D. Moak Brim mod Dow, 19/. t• DA ELY WEATHER TABLE. liv SATURDAY. AvovsT 30. Nil. nil Stab oldie Weather at each of the following places at Nino o'doek yesterday saorniag. The stations arr arranged la older of lattado. Sam et rasa. Onviiiid Wiad. FO m ,-Mate of Westhar. I X.W. Goma?... .1111011T011 me.. nrirsaima Looms, 001111111 MIL CUMMINS NOWT ....e.0.m... .••• • ....me ... Tummy .. bows .... NOTC9II.II Saaw:ca N.W. N.W. N.W. LW. N. W. N.W. 71. w. lir. N.W. N.W. N.W. N.W. W.N.W. LW. W.B.W. N.N.W. LW. ii:w. NW. Sire* Brost Gentle Breese Clestle Breese &nag Saes. Gentle Breen Beetle Breese Stress Breese Calm Goal, Beene Bine. Breese Osaile Brow Cala Ward Wind Poetally Cloudy &army Bale. Partially Cindy Overcast Overcast Overcoat Overeast Overcast Coady Moly Bala Ulu °remit mamas Hwy Ma Bala Bala Partialludy y aced, am_ Very Hu7 attemy Cloudy Coady Stormy Cloudy rap , Cloudy Ras Run. THIS DAY, Noox. Onroo of Wind. Mamie of Mad. Maio of the Vfoithor. 11. Oastle Breese. FAIL The retinas Sea the biLwta places did sot reeeh this alles la lime foe pallisidea yesterday; they therefore falcate the stele et this weather as Thursday ateasiai at aim °Week. 6.. W - N.W. S.W. N.W. MINS Nur Fetidly Medy [ 110111.1111•111 Oreriast Goile Immo Overcast M etresesee Pulley Med, Frei ei Sem Baia F A xzw Liza to give the Great Western Railway commudeatica with laverpool is talked of, to run from Amnock Chase and Colwick to Walsall, and join the South Staffordshire Railway, forming a junction with the Great Western. 9 91 :I , :1 4 d IS II din 1$ 79 d 91 1• 11 ISM 229 10i SI 21 I 2 11 Si II lf 12 :$ a d SI p 6 - i 151 li i d 5 S 111 Il iad 36j 366 73 76 St 1 1 5 1 1 Si 1 P 4 io 46 8 4 6 8 - 4 i N - 104 8 84 S 0 _Bl. 1441 1 r el ri r 113 1134 s d 1 6 1 4 POI If 1 7. 7. 7; Ai II 101 dim 9 6 li 23 344 3 11 dls 391 46/ s d 21 204 dim ~ 16 19 4 W N I 4 90 113 124 13941 23 2 4 I ~ ri 66 8 7/ 13} f 191 81 401 40:zd In 141 „ 1 i x new 114 1 RAILWAYS. [The wilt f be fared ist the oam* are yesterday bbi page.) s quotations; to-day's Mks ' 1111141114 AND litial-lINGUARANNEED. 30 Aouior~ A ti lu iresit=oar ik.6 131 Birm.Wate. allteraTallm 26 Ohhmissarl.Lassaddredk Ohm Jae. bbISLOAad 101 I li sad Luau ... SO bbrwa se Aria sod Igalibe,;l 13 !Nada al 12013013 wee 13 'DM Aaollas (LU L. It I wad 1.1112) . . IS Dm. (els s. isij :. 110 Roam Cemadm .. 22 llaahas Davy Um A NI 17.17. IL) -. Set 13 Uri 1 ail C eth 10 Art Liartign .. is Do. Sew shares SO East It Wmi a WY Dias aid Bns. Jumbo . ii . , SO Ed 0191099 Ist Glawpw ' 2$ Edia=th.Damla, 13 1 DA 1 dairria.A.Drierec lb. I ohana. l 3 DO hues 00 Lellawth. rani WestAlre., lOU Great Walton ... 17 Do. MT.._ 30 harmer awl Carlisle 11: De. Tlitrda 100 Lamadinamelfeekahim Zi D 4 f lam ... ... Ili Do. Ili lb. West Waft Dalai $0 Leeds Northern 11 1 Wades sod Blackwell 7 100 . Drielmem. St 6. Corr WO It Norrth-Wasten I 22 120.13 a, New 1 shares. 12 De. Mho ... . . 1 Dmilhsle..ltawl B.(C, .100 Leaden 13 Booth-Western 42) Do., LA ... ... . 134 D.. Lie 3 1 siancti.,eas,aiiii.ito . ei lOU lassels.,Shel.,ALlitoolevb. 4$ Da.llen.e Liar% Unice, lOU Midland 32 Da. LSO ;hues . .100 Do. Birm. and lYwhy 171 31 dLvel Great Westare(l) U Newmarket . . ... . 9 Nampart. Abirlaveany, 100 Nashik . ... .. ... Ilb Do. N . . New L 30... .. Si loetlwra 001104101 * Delon 20 %Mb Ilsitialt ... Isi North Stalurd;Sire.. 19 Nartk Wester .. 1 North klsoath Wesi.June. SO Odord, Were., at Wuiver IS seottialt Glare' ... _ 23 Swetielt Midland ... Ui Ds. New.. ... _ , 134 Shrews. at Him., Chess A 11 wsburyAllereford. ii,. I a/I Shrewsbury end ettecea ( a ( u te . r aiihes . W. 21m....) ...... SO Do. Orman .. .. . 11.... IDo. New ... ... 61 A/stew:Are Unite ... 11 South Der,m .. .. .. :6oaitt i2;stett SO South Wales IS loath YorkrhAtlllverDat ihett,koth.,&Goule,tl.ln. 15 itirling and Dunfertn'att Ytockton and Dart:rt.& I 7 Thant. allavenDoel.kkall IS Yale of Sleath Sa Waterford and Limerick.. 23 York,Neweastie&Berwlet 20 Do. do. Latestoono 9 Da.G.o.E.ratchake 10 York and North Slallait LIMES LEASED AT ibet4 & IDuits. Eats p 301 Bin! To - otTiV;it;;i! tutee Gt.iireet. l 304 Ditto without a guarantee Dewed to DreatWertern. IS Blrm., %Vole" and Dudley' enlodulypd.,orwithguar. I to GreatWeeterni I TieTwrcil is !Ditto wit (teasel to (treat Wooernl 174 BoeitiortatoAtiro (leased. to Loodoolt ti.Wcotoro 0 , 30 Clydesdale June:ion I ((based to C'sloiout 23 Lam tLineolnob.itur 6F.CLI (kiwi to Gt. Northern)l 20 ]boaster & Dem Vutrrtti os so 2$ 39 II 10 pm 7 9 pet 171 171 44 44 U 3114 di fliallanettiy(Llerkkrillid 25 Do. a shares (ditto; ...' 121 Do. f enure (tt tto).. io Leeds* Bradford ;Midland 121 tondos awl Greenwich Deeerd to South Eantern 10 Ditto Preference (ditto; 20 Lowestoft Oaar.apereent. (leered to Norfolk) ... Northersaleatern 5 peret 1 1124 p. 100 202 d 20 41 „ 22 23 „ 96 100 „ 111 111 23i 26i II 13 scl uelSi 34 4 , 4 6 poi (bawd to 43 Ditto ditto New 23 PeestoakWyre (kwe. Low.' aiN.WeetkLene.hYor2' II Ditto gates (A) (ditto, 20 Iliad" Guild, and Itelgate (Wend to Snuth Luta le 31 Borba sad Ititehin(itaa to Onset Narthets 4j Do.Strapreth Itsteo.(ditte Y{ South Stafforilohlre (Weasel 43 45 $$ ss3cs 21] 22 • Ili 1 d If I pl. Si 11 die . 15 16 - I to Kr. Wain& 2-5 Wear Valley, 6p. Ct. pm tbastaxt to Stoettooklkar, M. 10 CeJedonlan 13 13 'Cheater and Holyhead all , Dundee, Perth, and Aber. I dent Junction .- 111 EaatAnellae(34lo•)6p.Ct. 61 Enda= Counties Patens., 3 per Ct. No. 1 61 , Ditto do. Na s 10 'Do. New 6 per Cent. Mee 30 Irad-Uelon b, andAcerztp.(l Edlnbarg DIMS% 114 pm .- 121 Great Ifeethera3 prams Cimiltb6Watio(l) ,100 Grail Wolin (Wilts, 16=r6371 4 / 1 1 303:430. 0 pie Out. Stork - too 16.2T I MILAI63at. froot "..- Ms=ii, E.. .. MO Dias Sow 0•36.6 per C' ImodeallthWoopra Nes lb 116a.lbeltlaac.lio.31611 10 06. New SIO . 3 Ds. 100 . pCI Sidi MIA ... 6 061.66, , Wainr..llll.6pst ant I eseeelimpetilltuda.New SKAR soSi 7 II He f die la P 33 e Pia par lee 11 101 10 e pm. 131 I$ 1 1P 111 101 Me 11 12 — 111 ll } l it 101 11+ I 127 12! i 6 ie 4 4/ d Ip ata.oiti 10 Sesusiebsir Otw.V7. U daub Ma) • /It 17 Tort. Dom Xsuuooo.6 Wm. Otattetb of lopyrial Dino Ditto 10 Tatk&N.140.11.611..06a 13 14 11 13 t 2 2 : =o oil /mins I DOA Illoils .. ... .. S him Poolossio.. 34 D. Do. .. IS Do. ... ... ... Ss Nome soll psis ... ... Is Itartios If /see... ... s Odors owl Dordsaux ... IS MY owl Oilers ... ... DS Ms Ng Dim ... ... I/ Mimi Ifts‘eart ... so =A Mrs ... ... IS sal &NON .. SS Wig flosiso.„ ... ... Is II I le die 'WAYS. 441 99:d 221 I I Tel IQ i 413 e -1 17 3 61 2 Sam 1 : ti 1 1 S. Ili 341 3' "1 13 ii I IMs il I dis 1 I 101 / thi ; LONDON AND NORTH-WESTERN RAILWAY.—Such has been the extraordinary increase in the traffic of this line during the last month, that it has been found im possible to allow many of the trains to stop their usual time at the intermediate stations to *Wow passengers to alight, as usual, and this is found to be very inconvenient. GREAT NORTHERN RAlLWAY.—Excursion tr:ip are about to be run on this company's line along the route to Scotland, reaching Edinburgh on the suns evening. LANCASHIRE AND YORKSHIRE RAILWAY.—The agreement between this company and the Sheffield, Rother ham, and Haruki Company is to be confirmed. MONKLAND RAILWAYS COMPANY. The ordinary half-yearly meeting of the shareholden of the Monkland Railways Company was held in the Star Hotel, Glasgow, an Thursday ; John Bain, Esq., of Morriston, in the chair. The directors' report. an abstract of which appeared in the Express of Wednesday, having been read, the chairman moved its approval, which was seconded by Mr. D. Bannatyne, and adopted.---In answer to a question, it was stated that the Bo'ness branch would be opened in three months.—A. vote of thanks was given to the chair man, and the meeting separated. METALS.—Mr. Moate's circular states that - - - ------- Welsh bar iron is less in ropiest; in rails about 4,000 tom The Rev. 31r. SPENCER said that if the report had h im b oas toa t tat t o g for a t taw waled h ate n ot so:. consistent with former reports. The line, they were told, ga. ago f a i f a g n a w of e ta N a m N o , 1, • would be opened in February, 1847; now they were in branas, HA. 3d. free on board in 0. eltidasepers . 1851, and yet it was not opened. Ile wished to know wuranta. Ordinary brands, makers' M. 6d.— whether the balance of 8,000/. was not to be divided Swedish iron: N o t an y sa l. b a y s oggiirkei,—...thoh amongst the shareholders, as some small compensation to steel is Inquired after ga t No t xedgermem—cirporit ht dices who, like himself, had lost their property in this good demand.—Britlsk Omesies IMI of Mo. li•• undertaking. He wished to know when the interest was h o d it toff soatoo..._yaraiptta: Ia Naas *man bums to be resumed, and what was to be done with the balance at 80s. • sellers at 81a.—Ipaitse: Not eq bauseidass uv of MOO?. reported,—Lead; A ma d ata t a b o ws. Tia saw The CHAIRMAN mid that it entirely depended on the are doll of sale. shareholders themselves. The only way in which interest fi 74 I: 1 Ilj 3 9j 61 die 131 Ma 21 die s ifoi I new ti 261 31 4i 0 9 10 19 13 as —us I' 17 8i 8 dig 3 Si so 16 16f i d 4 1 MI loi 9;2 I 10 1 111 NMI 13j 111 i d RAILWAY MEETINGS. SOUTH WALES RAILWAY. The half-yearly meeting of proprietorswas held yesterday at the Paddington station ; Mr. C. R. M. Tee soy, MX., in the chair. The usual preliminary forms having been gone through, The SECRETARY read the report, which stated— Your directors have used every exertion in their power to expedite the works between Chepstow and Orange Court, and they have experienced great disappointment by the delay which has occurred in the completion of them. As men tioned in the report which the directors presented to you in February last, the construction of the works west of Swansea has been resumed. The altered state of circumstances since that period consequent upon the new agreement with the Great Western Company has occasioned some variation from the course which they then proposed to pursue. There is no longer that urgent necessity of completing the entire line to Milford Haven or Fidiguard, which rendered it imperative on your directors to prosecute the works at a rate of speed the utmost which might be found practicable ; and while they continue to press fore/Ertl the works upon that portion of the line which lies between Swansea and Carmarthen, they believe they are consulting your best interests and the truest economy is not expending the funds at their disposal beyond Carmarthen, with any degree of rapidity, until the line to that town is opened. The works upon the line towards lishguard to the west of the paint at which the branch to Haverford west diverges, have, since the confirmation of the agreement of the 29th March last, been altogether suspended. In accordance with the terms of that agreement, it is the in tention of your directors to make application to parliament k the ensuing session, for power to extend the line from Haverfordvrest to Milford Haven, and instructions have accordingly been given to Mr. Brunel to examine and re port upon the most eligible site for the terminal station. The term bills which were submitted to, and re• calved .the approval of, the proprietors on the 15th of April have (not without considerable opposition and seine modification) since become acts of parliament. By the ' Greet Western Railway Act, 1851,' the agree ment for a lease of this railway to the Great Western Railway Company of the 29th March is confirmed. By the ' South Wales Railway New Works Act, 1851, power is given to construct a new line of railway to join the Tuff Vale railway at Cardiff; to make certain altera tions and improvements in the Forest of Dean railway ; to enter into arrangements with the Briton-ferry Dock com pany, and with the owner of the Bute Docks at Cardiff, for the construction of branch railways in connexion with the proposed docks at those places; to abandon the Briton Ferry branch authorised to be constructed by the South Wales Railway Act, 1847,' and to make arrangements with the Vale of Neath company, for the joint use of the sta tion at Neath. By the ' South Wales Railway Capital Act, 1851,' the various subscriptions and advances made from time to time to the Vale of Neath—Waterford, Wex ford, Wicklow, and Dublin—Llynvi Valley—Cork and Waterford, and Tenby and Saundersfoot railway companies, are ratified and coufirmed. Acting under the powers aad provisions of the secondly mentioned act, your directors propose, with your sanction and approval, to enter into an agreement with the Briton-ferry Duck company for the purpose of securing the construction of the intended docks and railways in connexion with them, at as early a period as possible. By the terms of that agreement as at present propused, the docks will remain the property of the Duck Company under cer tain restrictions as to tolls and charges, and the railways and works connected therewith will be vested in this company at • cost not exceeding 20,0001. It is also proposed to enter into an agreement with the Vale of Neath Company (who are greatly interested in the proposed docks) by which a minimum rental of 1,2001. a year will be secured to this company, for the use by the %ale of Neath Company, of the portion of the South Wales Railway between Neath and Briton Ferry. Agreements have been entered into with Sir C. Morgan for the perpose of effecting a junction with the Western Valleys Railway at Newport, and with the trustees of the Marquis of Bute for providing dock ac commodation and a branch railway in counexiou with it ut Cardiff. Instructions have been given to Mr. Brunel to prepare plans and estimates of the branches to join the 'I aff Vele and Western Valleys Railways, with a view to the early commencement of the works. By the South Wales Capital Act, all doubt as to the legality of the subscriptions to the Welsh and Irish railways is now set at rest, and the vexatious and expensive litigation by which the company has been harassed for the last two or three avers e is, your directors believe, finally put an end to. As regards the subscription to the Waterford, Wexford, Wick low, and DeWitt Company, an arrangement has been made by which your directors hope to ascure eventually sonic return for the 83,000:. invested in that undertaking without involsiug this company in any further expenditure on account of it. They have also made an agreement with the Llynvi Valley Company for the repayment by that com pany of 4,5001. 1 our directors hare to recommend the proprietors to confirm the forfeiture of 5,898 shares upon which 60,4001. 10s. has been credited. These shares have been declared forfeited by the board of directors, and a re solution will now be submitted to you to confirm that forfeiture, in accord mice with the provisions of ,the act of parliament." The report of Mr. Sneeze, the engineer says : " I regret that on the present occasion I cannot congratulate you upon the railway having been opened throughout from Gloucester to Chepstow, as I had fully expected to have been able to do. The line generally between the Chepstow-bridge and Grange-court is nearly ready for opening, and from Grange-court to the river at Gloucester the Gloucester and Dean Forest Railway is also ready, but both at Chepstow and at Gloucester the river bridges have proved causes of delay. In the former case the delay has arisen entirely with the contractors, who, as reported on the last occasion , had been considerably in arrest throughout ; since that time unfortunately they have become involved in pecuniary difficulties, the cense- I quenee of which has tended still more to impede the pro- grew of the work—the erection of the bridge in the yard, for the purposes of testing it, is however nearly complete, and I should hope that in a month or five weeks that cork may be completed, and that we may then commence fixing this bridge in place. The operation of erecting it wi.l, however, unfortunately be thus thrown late in the season, and into the shorter days and more uncertain weather,which will necessarily render it a slower and more difficult work. In the mean time, it having been determined to open the lino to the cast side of the river, preparations of a tempo rary nature have been made at a point where access from the main road could easily and convcuiently be obtained, and leaving an interval of about one mile of rail way. The coal branch to the floating duck has been commenced, and considerable progress made ; preparations aro making at this point for three shipping places, for which the requisite machinery is pre paring, and which will be sufficient to afford accommoda tion fur shipping upwards of 150,000 tons a year. The same branch is also capable of being extended along the other wharves, and even to the proposed docks. Beyond Swansea anti towards Carmarthen, the works which Lev* been resumed arc proceeding steadily. Beyond Curvier then, and up to the junction with the Ilaverford-west branch, the works have been also resumed, but as there was no object in pressing them forward rapidly until the question of the terminus at Milford Haven had been deter mined upon, and parliamentary powers obtained, no effort has been made to expedite them." From the statement of the accounts. it appears that the receipts on account of capital up to that date form a total of 2,875,939/. • the payments on account of capital amounting to 2,837,6581. 6s. 2d., leaving a balance in favour of the former of 37,9821. 15s. 9d. The item of payments in cludes same of 140,0071. as subscriptions to other lines, and 46,706/. 2s. Ild. to the Swansea Valley Company. The re venue account shows a total on the creditor side of 21,6501. 10s., and a total on the debtor side of 13,8521. 7s. 4d., exhibiting a balance in favour of receipts of 8,0881. 2s. Bd. The following items make up the total of receipts:—By traffic, viz.: Passengers, 17,4331. 101. Bd. ; carriages, horses, and dogs, 1891. 19s. 4d.-17,6231. 95. 10L; expresses, 281. Is.; merchandise, cattle, &c., 3,1021. 64.3 d. ; warehouse rent, 81. Os. 4d. • parcels, 8301. 3s. 7d. ; by rent of station platforms, &c., 661. ss. The revenue account for the Forest of Dean branch gives a balance in favour of re ceipts of 2,3841. Os. sd. The CHAIRMAN thought it most advisable to open the branch east of the River Wye, rather than wait fbe • the seemingly indefinite flailing of Chepstow Bridge. Why it was not finished before he did not know. All he could say was that it was a source of anxiety to him to have it finished. On its finishing the goods traffic of the company almost entirely depended, Wanes there was no use in moving heavy goods from one glues to another unless they did away with the sea carriage. ' When that work was fi nished the) , could carry their Goal as the Great Western line, and their coke as far as Birth.- ham. The joint traffic committee had made arrangement', with the Great Western Company, by which he hoped they would be able to carry ooals as cheap as any other line in this kingdom— for Id. per ton per mile. (Hear.) As to the sesand prospects of the line he was as sanguine as ever though undoubtedly he bad to make a great call on Ova; forbearance, inasmuch es he had only promises for the atom to point to, and could not refer to the pest. Ha asepeadioaably entertained a sanguine opinion that the Sae wadi have been opened before now, and he weld hardly dada the title of a prophet if he said that it would he opened when they next met. But in meaathae the directors would do everything' is their power to expedite its opening. Passengers , soald now proceed from London to Swansea, with a break' elf 45 minutes; so that a person leaving London by the 9.50 train in the morning would arrive in Swansea at half-past 4 the same day. (Hear, hear.) This arrangement was nada by the joint committee of this and the Great Western Company, and ho was glad to inform them that they had the unanimous and cordial good wishes and co-operation of that company in promoting the traffic on the whole line. After a few further observations the chairman moved that the report be received, adopted, and printed for circu lation amongst the proprietors. Mr. A. F. PAULL seconded the motion. _ I could be resumed was by borrowing money at 4i per cent., and that was a financial operation which he should he son 7 to recommend. With regard to the balance, he thought it too small to be applied to the purpose of a dividend. Phey had been carrying the mails for the government for a year, nod they did not yet know what the government would pay. Supposing they were paid 14,0001., that would go to increase the dividend, but nt present it was so small that they did not think it right to make a dividend. Major COURT said the balance of 7,5001. would yield about 3s. per share. lie thought, also, the sum due from the Post-office should be stated. _ _ - The CHAIRMAN said this matter was now under arbi tration. _ _ . Mr. BARLOW, one of the directors, was glad this sub ject had been stated. Ile begged to say carrying the mails gave a great deal of trouble, and the pay was very scanty. He hoped it would be reported that this was a most un grateful service. Mr. FIELD thought some communication might have been effected between this railway and the ports in the Bristol Channel, Swansea, Newport, and Cardiff. A com munication between the docks and the river Thames also would bo of immense advantage to them. The CHAIRMAN admitted the importance of the com munication with ports in the Bristol Channel. Ile hoped in a short time they would communicate with Swansea. In regard to Meath, they depended much on the construction of the Briton Ferry Docks; and with respect to Cardiff, an arrangement had been made with the trustees of the Mar quis of But which would ultimately benefit the South Wales Railway. Thejunction with Gloucester he considered to be of the most importance, for he believed the \Vest India mail steamers would then have the whole of their coal from South \Vales. The Rev. Mr. SPENCER moved that the balance of 7,500/. be paid on this occasion in the shape of a dividend, but after a good deal of discuesien he ultimately withdrew his motion. _ _ _ The motion fur the adoption of the report was then put and carried unanimously; also a resolution confirming the declar.,tion of the forfeiture of 5,&16 shares upon which 60,4001. had been credited. Mr. unrciiik: moved a ♦ote of thanks to the chairman, which being duly seconded and carried, terminated the buaincus of the dry. LLYNVI VALLEY RAILWAY. Yesterday, the half-yearly general meeting of the proprietor! of this railway was held at the offices, West Strand, Sir It. PRICE, Dart., M.P., in the chair. The SECRETARY read the report, which stated that the bill introduced last session received the royal assent on the Ist of August. The interests of both classes of share holders being now identical, the directors will be enabled in future to attend to the dew lopinent and improvement of the undertaking by cheapening and facilitating the traffic over the line. Arrangements long sought fur by the present traders have been entered into, after many and urgent solicitations, for the reduction of the high rates of tolls charged upon the line as compared with other lines in th., district; and, as the present low price of iron must prevent persons having the command of capital from embarking in or prosecuting the work in the valley at such a disadvantage they directors consider they have exercised a sound discre tion in making a reduction in the tolls, and they sincerely hope and expect that the result will be highly beneficial to all the interests concerned. The net disposable balance is 2,1921., out of which the directors recommend the payment of a dividend at the rate of 4 per cent. per annum. They regret the retirement of Mr. Mathew=, their late chairman, who had rendered considerable service to the company. The capital account showed that a sum of 113.0391. had been expended, and that there was a balance to the credit of the company of 2,523/. From the revenue account it appeared that the receipts fur the half-year had been 4,030/., and the expenditure 2,0.15'., leaving a balance of 1,9721., which, added to the balance from last half-year of 2191., left an amount available for dividend of 2,1911. Ou the motion of the Chairman, the report was adopted ; the directors were authorised to hand over to the South IVales Company a Llynvi Valley bond bearing interest at 4 per cent. in liquidation of their claim in respect of 6,300/. subscribed to the undertaking by the South Wales Com pany, and declaring a dividend for the half-year at the rate of 4 per cent. per annum. A vote of thanks was then passed to Mr. Mathews for the able manner in which he had conducted the affairs of the company during the time he presided at the board. The ltev. It. Knight gave notice of a motion which he intended to propose at the next half-yearly meeting, to the effect that the management be remodelled, the number of directors be reduced to seven, and the remuneration to 200/. per annum; and that the offices be removed from London to sonic place in the locality of the line. After a vote of thanks to the chairman, the meeting separated. EASTERN UNION RAILWAY. The ordinary half-yearly general meeting of this 1' company was held yesterday at Hadley's Hotel, 111ackfriars; Mr. CORDOLD, M.l'., in the chair; who read tho re port of the executive committee of directors, which has been already published in the Express, and explained that an error had crept into the statement of accounts in print ing, by which two sum!, the expenses of the shareholders' auditors (1911. and the government audit (3471.), had been placed to the debit instead of the credit side of the account. Mr. BRUFF, the manager, then read his report, which contained nothing of general interest. The CHAIRMAN, in adverting to the discouraging nature of the report, said that the directors saw no reason to think that if the course recommended by them some time ago had been followtd they would not now be in the un fortunate position they were. Three years ago he told them that it was necessary to go to parliament fur authority to raise further capital to complete the works. The proprietors on that occasion sanctioned the raising of a sum of 230,0001. fur the purpose not only of completing the works then in progress, but to pay oil liabilities which had been already incurred, of the nature and extent of which the shareholders were aware. The directors employed a professional accountant of stand ing and ability, who investigated the accounts, and the re sult of such investigation hail been fairly and fully stated. But times not being prosperous at that period, and the credit of the company not being very good, they were unable to raise the amount necessary. They had, consequently, to incur fresh difficulties 'under great disadvantages, and met those already incurred by paying largely for accommo dation, which they need not have done could they have carried out their views. Ile mentioned this to show the difficulties of their position were not now presented to them for the first time. The last time he addressed them, and on a previous occasion, he intimated that some arrangement must be made with the preference shareholders as a pre paratory step to extricating the company from its di ffi culties. lie then stated that he did not consider the directors were the parties from whom any proposition on this subject should ema nate, or that they should take any step to deprive the pre ference shareholders or any other class of persons. But since that time a gentleman well known in London, who was largely interested as a preference shareholder, had in conjunction with some friends made inquiry into the actual state of the company's affairs, and as that gentleman was present he would explain his views. AU he could further say on this subject was that the directors were desirous of doing that which was necessary for the interest of all parties in the undertaking, according to their respective rates of priority. Mr. J. BROWN, to open a discussion, moved the adop tion of the report, not that he approved of the policy of the directors during the last two or three years, nor as agreeing with the chairman that their difficulties had increased not withstanding the authority to raise the 230,0001. The CHAIRMAN—But the money was not raised. Mr. J. BROWN was aware of that, but was sure that had the same vigour been shown by the directors when they obtained those powers which they had evinced in their appointment of an executive committee and in the report of that committee, those powers would not have remained a dead letter, therefore he contended that the directors were mainly answerable fin the present position of the company. He would move that the meeting approve of the appoint ment of the executive committee, that it approved of their report, which it adopted, and thanked them for the same. Mr. LECIIMERE took exception to various items in the statement of accounts, and proposed that the meeting should be adjourned, on the ground that in consequence of the delay in placing the accounts in the hands of Mr. Quilter, the government auditor, his report had not been received, and also on the ground that those accounts were inaccurate in themselves, especially in regard to the state ment of assets and the liabilities in the capital account. He also complained of the extravagant law charges which bad been incurred for this line, 149,0001., and referred to the fact that by the act of parliament the unpaid interest on the preference shares remained an accumulating charge against the company. He moved that the consideration of the report be adjourned until after the receipt of the government au ditors' report—that the statement of unpaid calls on pre ference shares be published, and the payment of them en forced ; that application be made to the Court of Chancery to tax the whole of the law charges; and that all capital remaining outstanding in the A shares be immediately called up. The CHAIRMAN suggested that the first resolution should be put as an amendment to Mr. Brown's motion ; and the others as substantive resolutions afterwards. Ile would now, however, move that the baldness be suspended in order to proceed with that of the special meeting which had been summoned for 2, and must be held before 3, it now being half-put 2. The meeting was made special accordingly, and after some conversation, a resolution confirming the leasing of the Harwich line to the Eastern Counties Company at 4 per cent. and half profits beyond was confirmed. The general meeting being resumed, Mr. Brown's reso laden confirming the report was put and carried. Mr. BROWN next moved that the number of directors be reduced from 12 to 6, and that not less than three of the directors be authorised to take the necessary steps in any future act of parliament that might be promoted on the part of the company, and otherwise to carry out such alto ratic'• . . _ This resolution was opposed by Mr. Lscxxxas, Mr. ]Leis, and others, and was ultimately lost. Mr. T. STURGE said—l will now state to the share holders what I think ought to be done under our present circumstances. At the meeting of preference shareholders held at the George and Vulture Tavern on the 21st inst., I said that as far as I could ascertain when at Ipswich, l about five weeks ago, the outstanding debts and liabilities of the company were 475,0001., to which I added 25,0001. to corer unknown and unssccrtained claims—this would f make together 500,0001., which might be reduced hy con ! vertible property and securities to the extent of 60,0004 leaving 440,0001. to be provided for. My wish was to bring before the preference shareholders what might prove the full extent of the mischief. When I went to I pswich, the executive committee were engaged in ascertaining the real position of affairs. Yesterday I received an account of the result of their labours, which is more favourable to the company in amount than I had reason to hope; nevertheless it may 6e there are some claims that may come against them, which, owing to circumstances, they do not know of, but if any are made, it is not likely to be to any serious extent. By information now re. ceived it appears that the known claims and liabilities are taken at 448,6611. 10a. 9c1., and it will perhaps be thought safe if we call this in round numbers 450,0001. It appears that some of the parties who advanced money hold bonds and other good securities of the company to the extent of 27,0001, and as, in estimating the charge on the debenture debt, interest at 6 per cent. will be calculated on these bonds, we deduct this 27,0001., which will reduce the 450,0001. to 423,0001. It is further calculated that property of the company may realise 30,000/. If this should prove rorrect, it will further reduce the amount of 42.3,0001. to 393,0001. It is thought this amount may be further reduced by payments upon shares, calculated to produce 10,0001. As I understand, this arises on A, B, and C shares, set down in the auditors' statement as calls unpaid,76,1591.505d. If no more than this shall be recovered of those calls, it will be a subject to consider whether or not those shares which are not paid up ought to he forfeited, or how they ought to be dealt with. If any of these shares should be held by persons who subscribed for them, but who have since been reduced to poverty so that they arc unable to pay, it is pro bable the general body of proprietors would admit them to hold stock to the amount they have paid, supposing in settling the company's affairs, shares be converted into stock ; while on the other hand, if there should be reason to suppose that any of these shares have been made over by persons able to pay to men of no substance, then it may appear consistent with justice that the y . shall be forfeited. Under the table of analysis of shares as given by the auditors, it will be seen on referring to it that there is due on class A shares alone, 71,3981. Bs. 7d. At the foot is a small asterisk, with the words, " See explanation in auditors' report, De cember, 18.51." Not having this report before me, it is need ful to speak from memory. If this serves me, I believe that explanation was that 6'. only had been called on 3,506 of these A shares of 251. each. If this is so there remains 19/. per share to be called, and this or. 3,506 A shares would amount to a considerable sum. It is true that in the pre sent state of affairs it is not likely that all who hold them shares would be willing to pay; but it is to be expected that all konourable holders who arc able will feel themselves bound to act honestly. From this source it seems, there fore, reasonable to expect to get something which is due to the company. It is especially due to the preference share holders, because it is one of those sources which has always be n held out to them as a security for what they advanced. I believe at the time these shares were issued that so good an opinion was entertained of the success of the company that many of these shares sold at a premium. Every per son As Ito has been so unfortunate as to be obliged to adjust a debtor's affairs with his creditors, when the estate was very deficient, must be aware of the very great difficulty of settling with small creditors, so that it is usual to pay such in full. The Eastern Union Company will have a considerable number of small creditors whom it will be necessary to deal with in this way ; for example, 61 cre ditors under 1001., to whom is owing 1,756:. 12s. Id., average, a little under 29/. each; 49 creditors for land, 1,8581. 7s. 4d., average, a little over 38/. each. Some diffi culty may be experienced in settling with creditors whose claims arc for money actually lent to tho company on tho faith of debentures to be issued when the liar etch lino should be made, or that ample securities would be given them; they certainly stand in a somewhat different position from those whose debts arise from goods supplied or compensation for land—land, in some eases, taken but not yet conveyed to the c oupany. It will be evident to the shareholders that it must be very difficult and painful for the directories exe cutive committee to deal with these matters, because it is to be supposed that, eutertaining at one time in common with' the public at large great expectations of the profit that this undertaking was to produce, they naturally would speak encouragingly of it, and induce many of their friends to embark in it. But, as it dries not at present yield the ex pected profit, it seems necosatry that a committee of share holders should be appointed to help them over this difficulty and to stimulate them to those exertions which justice and necessity require. 3.13,0901., it will be reco 1 •eted, is the amount already assumed as the debt to be provided for, it may bo lessened by what may be got by calls on shares, and it is to be hoped this will lie something considerable. 1 don't like to reckon on this till it is got, but prefer to keep what may be by some thought the unfavourable view of the case before me. I therefore take 535,9241., the bond debt, at 5 per cent. ; there is some amount at 6 per cent., but I take it at 5 per cent., because I think if a good and satisfactory arrangement of our debt, owing to the forbear ance of all parties is made, the credit of the company will be so improved as to enable it to raise or renew bonds at this rate or even at a lower rate of interest. Five per cent. on 535,9241. is a fixed charge of £26,796 4 Rents.—Stour Valley, say £lo,ooo St.)wmarket Navigation 1,070 Lark Navigation Being a fixed yearly charge of 38,366 8 Notwithstanding the reduced amount of net revenue for the last half-year, owing to the unusual charges to revenue and other eircurnstanc,s ntentionci in the report, I think it quite s ife to reckon the productive revenue at 110,0001., from which I deduct 601. per cent, to cover all outlay of every description. It will he seen that our engineer esti mates this will be covered by 58 per cent. ; he may have very reasonable hopes to be able to effect this and I feel confident he will use every exertion to do so. Nevertheless, GO per cent seems to me to be as little as we may reasonably expect, the expenses will be when revenue bears all charges, there is no reason why it may not be reduced to 53 or 50 per cent., or even lower; but this will require some time. Taking the receipts from revenue to he, say, 110,0001., deduct for expenses, 66,0001., leaves a disposable balance of 41,0001. ; deduct from this bond, interest, and rents, 38,3601. Ss. 0,1., leaves 5,633/. 12s. 01, an amount which, in the first instance, can be applied towards interest on the debt of the com pany, which there is good reason to suppose will be settled on as liberal terms u circumstances will allow. There must be a forbearance on the part of shareholders, and all may have to submit to some sacrifice, which, cordially united in, may enable this company to hold up its head, when it will be in a position to maintain its rights, and then wo may look to a greater degn.e of prosperity in time to come. (Cheers.) Mr. BROWN moved that a committee of shareholders be appointed to cooperate with the executive committee on all matters relating to the business of the company, and especially to co-operate iu settling with the creditors; and that Messrs. Bagshawe, Scholy, and Sturge be appointed es such committee, with power to add to their number. The motion was seconded by Mr. llorn, and after some conversation, . A GENTLEMAN, whosaid he was 3 director of the Me tropolitan Life Assurance Company who held 20,0001, of tho company's bonds, complained of the difficulties ho had hitherto experienced in communicating with the directors, notwithstanding that his company hail not pressed for payment of the debt due, and had induced others to abstain from preferring their claims. lie hoped that the executive committee would con sider the debentures that were due, and take means to pay them off. Until those were paid off, let them pass what resolutions they pleased, there would be an underground current in operation which could not but damage the concern. The resolution was, after a short discussion, carried, and the proceedings of the meeting terminated. MANCHESTER, SHEFFIELIkAND-LINCOLN- RAILWAY. The half-yearly meeting of the proprietors of this railway was held yesterday, at Manchester. There was • large attendance. The Right Hon, the Earl of Yarborough presided. The directors' report was taken as read. The principal portion of it has already appeared in the Express. The Earl of YARBOROUGH then said, as the report and accounts had been circulated among the shareholders for several days, it would not be necessary for him to detain the meeting by any lengthened remarks. Ho was in hopes, last year, that they would not have had to show so large an expenditure for parliamentary proceedings ; but the direc tors had been obliged to defend their property against tho aggressions of the Great Northern Company, in a long coa -1 test in both houses of p arliameat. (Hear, hear.) It was proposed by the Great Northern Company to take posses sion of a most important plot of ground in the centre of tho works of Grimsby Docks. It would certainly have been one of the greatest violations of the rights of property, if parliament had allowed one company to take possession of property that another company had ' possessed by purchase. Ile could not conceive that the facts of the case had been properly represented to the di rectors of the Great Northern Company when they allowed such clauses to be introduced into their bill. He felt it the more necessary to refer to this, because be found, on refer ring to the report of the directors of the Great Northern 1 Railway, they stated that the Company's Bill, No. 2, pre pared to regulate the relations of that company with the Sheffield and Lincolnshire company, " has also been passed, after severe and protracted opposition. The com pany have established the right to accommodation for fish tog traffic and goods at the Grimsby Dodo, as well as power to construct the necessary curves at Retferd, and to erect a goods station at Sheffield ; and the pri vilege of using the Gainsborough line of the Sheffield and Lincolnshire Railway has been confirmed." It struck him that any gentleman reading that paragraph might think the directors of this company were not justified in opposing that bill, and thereby incurring fresh parlia mentary expenses. But though the directors had been con stantly expecting, and were ready, to treat with that com pany for whatever accommodation they might require at Grimsby, they never had been asked on what terms they would allow them to run from their station to the docks, but without any communication with them, and without any attempt at negotiation, they at once proposed to take a plot of ground, without which it would be impossible for the two docks to be connected together as originally pro posed, and the directors then felt it absolutely ne cessary to oppose their bill. The House of Lords had refused to grant these objectionable powers, and the Great Northern Company dud now obtained an act which gave them precisely the powers which this company had been *wing to concede. (Applause.) The directors had not therefore been recklessly spenduig money, but had been compelled to incur expenses in order to protect 8 4 1 189 94 7 T,22 171} 241 188 264 2,561 236 4,~5il ll 9 i 4, 201 9 i i 2Gt 1 8 11 I d 1 51 16 ft at ds I 5 II dig . 1 . 4 %As 9* 41 i zd 11l z 4