The Express. — London, England, 1852-08-14 00:00:00

arnO lerof the letters. Oa is as good mBO foe els par a the yroseestisa. " . 14 boi No ship-After we released the woman she re -Ito L Franl.lort's. Field and myself went back with her at her reu:sest. The servant Mail the bell, and is h,s hr. kr.:•ll.p same to the inner el we, she called to him, m,1,1,1. the 'Ake are bete." We all went in together, s ad 1 Cask Y.r. Field t,ild his lordship what ha l passed. I h a d been watehing the house several days previously. Is. Field, of the detective force, rid-I &emu r,„„ t th .„.1.,. to Iluekinglia.natreet on the 22nd of t 0..• the woman came out with the letters, Fold Frankfort come out of the door and look ~..•!,.. srrc. t. On !dripping the woman and asking her • h • had brought the letters from , she replied •• Whv sop ••i• • ~,,ght to know. - I aid '• How do I know 'r' „,,i •• Why, from Lord Froulefort. I elpectcd s he ▪ get into a Inert S‘Mte of these elay•.'• I then took hire Soo:landlord, owl opened the two letters produced w her preo•nee. She made • statement, which l took Joan at the time, as follows • Statement of Mary Tay k g IJs a single woman residing at 7. Chariton-stn-et, F A .. I -,years, I lasso known Lord Frankfort for some IsAr , e at I h eve h. en employed by his lordship in the c.e..wity of a N rant. On this evening his lordship gave Ja• a U rsat natitth r of k tiers, and told me to poet them at the !'haring-crag, which I was doing when I ▪ +US did die officers. 1 have repeatedly posted letters Len u to tbUse 1 'unit upon me." I thee went (continued the ~•,,,,,t to Frankfort's house, as the woman wished me t her. saying that if I got into the house I must i arenal of him, uhe was dangerous. I understood Item to mean that he would lie dangerous to me. CAMS) Inoue between those two • uol Another policeman behind. i t.i.ss -I took • conatable iu uniform with us in con• •livt she said. She ring the hell, and hi. lord s: iv ~our to the door, but he did not see us. She told him we a, re the pollee. and we hi and hint say " She is not my she is a .011.40 that chars fur me." We did not to with the woman, so the door was shut in our face. „ r , rt.. woru..ii tome out about twenty mir.utes after ward.. and byre win her several times since. MI. Ition-ls the woman here ? old- Slur is not, your worship. ll.:e , .daot - then why is she not here ? lusluit if Field- Dictum you have got her somewhere fif 0. the way. )li. !leery-Have you tried to serve her with a Field-I have made repeated attempts to do so, n.,where to be met with. We tried the address u p., h she cave at the station, but she was not there. tiudilford-plare, Ilagingge ea eanue4-I was formerly a police-constable, but am now hi,n„: spin the superannuation pension. I have known LoJ Frankfort many years. I saw his lordship on the slat of July last, and then made an appointment to me Ara on • private matter on the billowing day. Jul „,, l ‘• however, until the 23rd. 1 took down •ervirsietion which I hail with him, immediately after ha, ma him. After disposinz of our private business, he raid Whet sort of a mania Field, of the detective force ?" I rid Le 11.11• stoat man, aad described him. He said. Who is the last gnat man on the detectives ? " I said Shaw. Ile said, "1 her came here two or three days ago. My servant was putting some letters in the post-no (cor neon; h.insi-11) not my servant, I mean a woman under ey prot,etioi•-my charwoman. They have committed a loeLes) robbery on me. They have taken my stamps-no, v.t min, another gantlenran's who I do them fur, and she post. Mein. I shall we about it, and make them give com pensation for false imprisonment. - Ili hod int -There is not one word of truth in what this man tar. I ertainty ask, d what sort of • men Field was, fur I tonsiderid him a very hasty-tempertd man. 31e 11.60-You had better reserve your statement till oftrr the domination. Witness continued—Ou the 27th July I saw Lord Frank f.ll.,,teiti, at 10 o'coick in the morning. He said, "Do y.. 4 :wow Sergeant Harrington I said " No; there is :•.r.s. Alit tturutua.'• He said, " Ah, that is this soma. I woi. you tr see them, and request them to come lure and mile an offer of eniaproiniae, for they have dune wrong. Tiny are not to offer too large a main ; for if I think it too mush I shad take off half. If they get into the hands of a tor lawyer thi y will have to pay a good demi: for supposing the 1. net. contained treason, there was nothing in the pub- Leeteh that could hurt me, as I base bad advice upon the ',Abney What sort of a tempered men is Field )" I said be was mild in the execution of his duty. He said, " I should nut like to hurt them." Tbat ended the converse. t. in on the 27th. I saw him again on the 28th, at his own house. I told his lordship that I could not see Field, as Le bad gone to Goodwood races, and Thornton was eat out of town. He replied, " They are in a d—d mesa. &nil some one to them. Don't make it appear as if you ram,. from me. They have commiPed a highway robbery on nay personal property, as well as a trespass. if they has, acts 1 on a warrant issued by the Secretary of State, or Sir It. Mayne, they are both hasty. I shall bring it before parliament, and the Derby government will be thrown out, and Sir Richard Mayne will lows place ; for they both deny them, sad the men will be left to their own resources, fur I can get a verdict agent them. Defendant—There's not a word of troth in thili man's statement. I have nothing to hide. I simply told him that the poor woman was going to put it into the hands of a lawyer Mr. Humphries said that it was the wish of Mr. Mae loath that he should be examined. Mr. Ilea r q ~ I think he ought to be. Mr. W. Maebentb, solicitor, 3, Vigo -stmt, Regent-street, ivaroined—A numbet of these letters have been forwarded me by post, by my clients and others, and I wish to state that I have never given any authority for the use of my name in t►is way. ll] Mr. llenry—The fact is, that on a former occasion Lord Frankfort gave me a number of other letters reflect ing on other people's chlracter. I know his lordship's handwriting. On looking at the writing on the envelopes produced, I sbouid say that it resembled his lordships, but kW been grerly disguised, as may be observed. It is my Lehi( that they resemble his lord/hi-is hand, but if you 111.1 Jliow me to compare them with his writing I shall be hitt , : able to say. Mr. Henry—You cannot do that. It would be illegal. Witnewa—lt was decided in the Queen's Bench that we might refer to a man's writing to refresh our recollec tion ut it. Mr Her ry—No; the decision was just the reverse. Witness—Well, to the best of my belief, the envelope ad.lre.sed to the Rev. Mr. Bradshaw, of St. Stephen's, South Shields, and the one addressed to the Ker. J. J. Hill, are in his lordship's handwriting. Mr. Humphries applied for a remand to get additional evidence. _ On being cautioned in the WWII way, the defendant said he ehould reserve his statement for the present. Mr. Henry then ordered his lordship to enter into his own neudniaances, n 6001., to appear spin on Triads, in st. Lord Frankfort, who wu dremed like a diagram, sad remained perfectly talm and indifferent throughout tin aumanation, then withdrew from tho court. I►EFECTIVE DRAINAGE IN STOKE NEWINGTON. Last evening a public meeting, convened by pla card, WU held at the Maaor Hatms, Charch.street, Stoke wington, to take into consideration the necessity of taking the attention of the COMMiBIiOO,II of Sewers to the pri.eat danger..us state of the dniaags in the above locality, wh.els is seriously affecting the health of the inhabitants, mid of impressi ng u p on th e Commissioner the urgent need of • .peedy remedy. Various resolutioas and a memorial having been agreed to a deputation wail appointed to wait upon the COMMIS 1140oehl of Sewers with the last, and a irsee shanks having bees passed to the chairman, the 'seethe, teeminated. 111. RECENT Sroam.—On Monday eight at mid aqtht large number of shooting sten were observed et snithanipton which left tracts of light after there. The •.other was all ' T , About aid- u vary sultry day on -i tamday. day a heavy shower took place with a solibu7 clap of tender. On Wednesday moraint a n a b n eut two o'clock the ir n.l roes and for twenty•four coutisued almost without interminana to blowhard somempanied with beery .towers of rain. Such weather has set been known at f l oothamptrin as the mouth of Assume for seventeen years Ike tide did not leave the shoes is its usual course. A number of boats were swamped or destzoyed by the gale, sod n.reral yachts and other sailing craft were seriously 'hemmed. Two men went out in a boat during the storm !ewe the west quay to fasten on an additional anchor to a Yw and a wave capsized the boat and one of the men was , iriwned. The boot was upset about 200 yards from A. soon as the accident happened and the two soil were nen clinging to the boat another boat pushed eff from the shore to render assistance, and just as it came alorigs,de the two men dropped their hold of the boat. One sum rasped while sinking, and was restored. The other k'irrampni at hut mimed. The Havre steam boat could not harbour. The streets were in some places covered wick bricks, tiles, broken chimney pots and branches of trlm Muth damage wasdone to the roofs of houses. Tin: IMININTOR PRINCE. GONERGUR.—The Con obtmiumoel wires the following additional particulars re .peeting the pretended l'rinte (footage' , :—" His real lame 51 erzynowski. It was in Switzerland, at an hotel, at the death hed of the real prince, that be sot pastrami of some tinily parer., which emigrated to him the idea of person. atm..^ the defunct. He thought also of forging ems Paper, to complete his genea.ogical proofs, but the work of Coast Litman the princely families of Italy, of which only' lopy esimlo, in Paris, to the National Library, inter fered with his pretensions. He bad had a sheet printed, in which be staled has filiation, and which he wanted to sub rave for the real one. He could not, however, succeed Illmtethir, the surveillance of the employes at the library brume ton time , hut the two leaves, the false one and the I true, ar e now bound sin tegether in the copy in question. Myr ti 1 ttr Inc(ilsos.—We have had shown to ! letter from R native of Linlithgow, who is now trying to f• , rtuue 1.! the Australian diggings. Some adventurers, ise made al much ma 3,000/. in ten days; hut the amount pi, k, d up by each iodividtul in a d early ;menu bi a hundred. His own luck haday varies f been some spirit lel.iw the average, forty.seven ounce.' being the "'quit he has collected in two months and a half, which, si 'he pre bent price of gold, is not ler from 1501. ; not so ball for a working man, when it is considered that his es "i-ts durinc the time he was engaged in collecting it einounted o n ly t o 13/ . Ile hail left the diggings for Oee lig to hay a hoer and cart, and be found that the rash to the diggings had the tffect of raising the price of such com a, ' 4 . o 's —carts be i ng u p from 71 to SW. and 601. ; hareems ;, and hones from 20/. to 401.—Falkirk RAILWAY MEETINGS. LONDON AND NORTH WESTERN RAILWAY. The ordinary half-yearly court of propri e t ors i n the above eompsny was held• yesterday e.t the Ruston Station, (litmus Caaa OLIN, En, 11 1.1'. chairman of dirtetors, preeidioi. After the usual formal buirsevi, confirmation of the minutes of former meeting, be. , the secretary, Mr. C. STERAIIT road the advertisement convening the mooting, and The CHAIItIAN mid, gentlemen, I do not feel that on ibis occasion I can venture to congratulate you on ihe ae• counts which have been placed in your hands, because since. th. y were issued to the proprietors • very considerable vlteration has taken plate in the value of all railway stork ; but, gAstlemen, l think if you take the trouble to trace ti e crews which have produced that alteration to their proper source, you will find that although they correepouded in time with the iron of our account., they hail nothing in point of fact to do with the nature of the accounts them solves (Hear, hear.) I believe that fur some time past the spirit of speculation has curried up railway property generally, as it did other descriptions of property, the el an:lomat consequent upon the arrivals of the petticoat' metal. from various parts of the globe raising everything is the sl.ape of speculative property. (Hear, hear.) eauses more of a political nature, and more vmaeeted with the present appearance of the harvest, induendag the decline of the lisiglish (wide. have produced a grcates comparative decline in speculative traneactions. Now, although I have no hesitation in affirming that there is .thing in these accounts to disheartin you wit', regard to the prospects of your property, still it would be perfectly preposterous to compare the receipts of 18.12 with them of 1851, which we always told you, being the year • r the Exhibition, must be an exceptional ferial. (Bear. bear.) But if you compare 1102 ith 18:10, taking the same periods in each year, you will find that we have increaser! the 311. crapes 26,000 f , and that in the face of an active sad strenuous opposition. (neer, hear.) Therefore so far from there being any reel grounds for the ilcprerion of our stock, 1 affirm that there is nothing in the state of our affairs to disturb you as regards the present position of your property. (Loud cheers.) I admit that our expenses hose been high, and I a not going to hold out any hope* of a very great oe immediate climinutiontif those expenoes. If we attend, as I hope we always shall attend, io keeping up the edicicncy of our establishment unadc this head, the capita! account being closed, our expenses cannot be materially TO• dated, but they have been unduly increased during the last half-year from the fact of the whole stock having been over-worked during the period of the Exhibition, while the timo did not permit the necersary repairs to be carried on at the moment, and the expense ha. tonsequeutly upon the past hall year. (Hear, hear.) There a one point in mine:ion with the accounts which must alwaya be mile factory, I would refer to the state of you. dila wore debt and the powers that have been given by parliament to create a preferential stock in substitution of that debt; I think we must look with satisfaction to that cones Tido°, and the certain expectation that, by the diminution of interest en your debt you will derive substantial advantage. in future dividends. cloud cheers.) Of the whole of your debt which, in round nuutlicrs, is about 9,700,001., upwards of eight millions bearing interest varying from o to 32 per cent., will be subject to the reduc tions to be effitted under the powers of tho Preferential Steck Act, and a very considerable sa ing will take place. (Hear, hear.) Another point in connexion with the accounts —1 have albs led to it on • former occasion, but I would re vert foe one moment to it now—l mean the reserve fund, fur the replacement of permanent way—the am tuot laid by every halt-year is very considerable. When the subject first became matter of calculation, it was done—although at m sy appear somewhat singular—on the principle of life as , and I am happy to tell you that experience, up to the present time, proves that the calculations were nut only correct, but that, in point of fact, your reserve fund has a tendency to become larger than necewary for the purpose intended. I hope, therefore, that, as in the ease of the life assurance companies, you may have in future years some thing in the shape of surplus accumulations to the credit of your accounts. (Loud cheers.) I stall not occupy your time further with the accounts. I will avoid any ing any thing with regarl to the observations of the auditors rela tive to the accounts, because it falls to my lot to-day to bring under your notice a greater variety of topics than usual, and I shall now proceed, leaving the report to speak for itself, to bring under your notice the events of the last mama of parliament, one of the most harassing as respects your executive that has ever passed. (Hear, hear.) It will be in the recollection of the proprietois that we had very few bills of our own presented to parliament. One was introduced by us for the purpose of making a new line from Birkenhead to Chester, which we were enabled to withdraw, in consequence of the withdrawal of the Birken head Company of their bill, to authorise an alliance formed to effect our exclusion from that town. I hope it will not be necessary to renew that bill. The next bill in which we were interested was one for making a connection between the Buev lime, and the Oxford, Worcester. and - for - Wolverhampton. It w for • abort distant,, ally 21 was pared by the reenaittop of the House of Commons unanimousl but w rclorted by the committee of the House of Lords. On what grounds I am at • loss to conceive, for then was nothing to object to in the bill, Putting aside tho nusetioa of whether or not it was tight that the Oxford, Worcester, and Wolverhampton should bare a cmnmuniention with the metropolis over our exist- log liars, it was still clear that there was a ease for a line to open communication, east and west between the Oxford, Worcester, and Wolverhampton, and the various gauge systems to the east ; because, be it remembered that the narrow gauge is already legally admitted to be part of the Oxford, Worcester, and Wolverhampton system. The next bill iu which we had aa interest was one promoted by an independent company, the Worcester and Hereford. That ball, after a long protracted scrutiny, passed the House of Commons unanimously, but it alio was rejected by a com mittee of the House of Lords. Singular enough to state, the evidence given before the coianuttee of the House of Lords proved the necessity so strongly that their lordships stopped the ease before the traffic evidence had been completed, leaving us with • decided impression that they were convinced of the necessity of such aline. It was likewise promoted as one which would be very cheap of construction. Whether or no that influenced their lord ships I cannot say, but they rejected the bill, although sup ported by every interest in the county, by the House of Commons, by the local influsnees, by Lord Somers, Lord B, &tactlessly, the town and county members. (Hear, hear.) However, we were successful with one bill, and I am thankful fur even that suoress. (Laughter.) Their lord ships passed the bill enabling us to change our debenture debt into preferential stock. That is a most important bill, and one by which I hope your interests will he greatly benefited. (Owen.) So much for the parliamentary measures by which our interests were affected. I will now peas on as shortly as possible to those measures which we felt it our duty to oppose. First, the North Staffordshire promoted two bills, both of which were extremely hostile to the interests of this company. I know it is a matter of surprise that I have myself to answer the statements of the daimon eit the North Staffordshire Company, with reference to 1119 =7of this company. Now, I beg it to be dint , that I refraiaed, not from any difficulty I Wail bow had in replyiag, but because I do not thinli it wend be beaming. (Loud sheers, end " Hear, hear:) I in not think It beesedep that occupying the chain of peat oempumin rend Is a systems of vi tuperatios that ems de me geed sod inn hem. hear.) Bet Ind as addlileed news is the peesw t use, because WIWI.* die limas won node. I and the suggestion bed bees deput e that the = P et i t tioa between us should be refined* Robert Ste and Mr. Hope. The North ilemillsdahire board t a r: seated, we had sasawsie, awl as I dionglit we were on the pant of having luesale ended sadder that decision, thought it as to ..chafe waifs which could only lead to ill-feelias iseusems die wmwonies. (Hear, hear.) The consequesso ad Oh minim was, that the two hostile bills ware The sat important subject was that MilMiliden will the Shrewsbury Companies and Great WintlinAnteignwationowi Arrange ment Bills. These Mb emedisei einem of a very extra ordinary nature, mime* wiled maim dames, end we were successful in the nom of Clowimmo be ',Wang those which were obnoxious to yew inesele 'avenged from the bill. Is the House of Lse la asessisisam of the interfe rence of proprietor in the Leedom mid Birmingham, Shrewsbury sad Chester, mdiltheir eampasdes, their bills were stopped. Now, psalm, arena deal has been said, and • great deal more has hen bummed, with regard to the part which the North-Western Company has taken with reference to than pownwlinge. I believe I should not have thought it setwoor7 to Wks dons at all, if it had not been from the clironmstasom *Atha allegations which had been made on the subject weft brraght forward in the Hone of Lords madam this , by no less an autho rity than Lord Lyndhurst; I know the whatever that noble lord says must command attentioy and as his lordship is fa vourable to the Great Western Company, he does not conceal that he is the sdrixate of the Great Western—he admits that they are civil and kind to him, living as be does on their line. I wish he lived on ours, in order that we might show him every possible respect. (Loud laughter.) lie lordship, acting as the advocate of the Great Western, did in his place in parliament think fit to make the assertion that the London and North Western Company had taken measures with regard to the Shrewsbury Company, and bought portions of that company's stock for the purpose of influencing its meetings—l must take this opportunity of saying that his lordship was wholly misinformed, and I am summed that the statement should have been made. One of the officers of this companystated the contrary before a com mittee of the House of Lords, and disproved the allegation. That officer had told the committee without reserve that he and other gentlemen connected with this company had invested about 10,000/. of their own money in Shrewsbury shares. It is not for me to say how far it was VW' in them to do so. I know that they did so solely with • view of pro tecting your interests against attempts notoriously made; but I regret the step they took, because the per version of the farts furnished • hauls, although a feeble one, to be used against us. But the same officer told the sonamittee that the transaction was utterly unknown to the directors, in short to any one but themselves, the funds being their own, and not the company's. I cannot leave this subject without referring to another remark, which also fell from that noble and I d lord with regard to the proceedings of those particular companies in connexion with the London and North Western Company. Ho told the House of Lords that we, the London and North Wooten Company, were trying to interfere with the inten tion of parliament with regard to the use of the Shrewsbury and Chester and the Shrewsbury and Birmingham lines. Now by that I suppose Lord Lyndhurst meant to declare that the intention of parliament in the construction THE EXPRESS, SATURDAY EVENING, AUGUST 14, 1852. of those lines was, that they should canstittatts • competing scheme to the Londot and North Western Railway. lam speaking in the presence, probably, of many gentlemen who are aware of everything connected with the formation of those undertakings; arid I beg you to remark, in the whole of the circumstances from their origin, how totally devoid of foundation that weenies is. What was the origin of the Shrewsbury and Birmingham line ? The origin of the Shrewsbury and Birmingham line was this. The London and Birmingham promoted one line; the Grand Junction promoted another; and in parliament those two lines were made one with the sanction of these two C01:111.110iPi. But further then that, the Shrewsbury and Birmingham urn our partners in the Stour Valley line; they are our part ners in the Wolverhampton station ; they are our part ners in part of tie lino to Shrews - ury ; and will anybody tell me that when parliament granted lines and powers with such an identity and partnership it was their intention that they should be competing lines? (hear, hear.) Surely people don't enter into partnership with the view of destroying the partnership property? (Hear, hear.) All these line. were-1 was going to say o.n p r omoted—but they were we supported and sanct tttttt by the and Birmingham interest.—(near, lu:2)—and, therefore, to say that the intention of parliament has been thwarted by our efforts to prevent those lines being con verted into purposes hostile to us, is to speak without soy knowledge whatever of the original facts. (Hear, hear.) The same is true of the Shrewsbury and Chester line. I have before me the original prospectus. It was nothing more than a prolongation of • line already existing, coaled the North Wales Mineral Line, formed, as it is said in the prospectus, with the intention of developing the resources and the testae of those districts. If there had been any other Intention admitted, the line would have been opposed by tin n ousting interests. Well, did we oppose it? ho ; we never thoaitht ofopposition—it never entered into our heads; they never made any statement at the time suggesting the ni ens city of it, end they Id parliament that it was to be a sompeting line with us ; and, therefore, we n erpwed it. (Hear, hear.) Therefore, to say that in the course the pro prietors are now taking we are interfering with the inten tion of parliament in regard to tholo• lines— fa, I must again observe, to speak without knowledge of the facts connected with the origin and intention of those undertakings. (Hear, hear.) As I said before, I wish we hail Lord Lyndhurst as our advocate; for as all must adioit in that capacity lie is one of the cleverest and most talented men this country ever produced. On the occasion I am ref. rring to it is very likely he could not help thinking that, considering the audience he was address ing, there was • very gad opportunity for his giving us a hard hit; and sctiug on the instructions which he had doubtless received, he went on to urge another accusation against us. I am almost sorry to occupy your time with them things—(" Go on") ;—but lam nut quite sure whe Cher what I am shout to tell you doesn't somewhat account fur the way our bills were dealt with—(hear, hear) ;—and that is the reason why I advert to the matter. (Hear, hear.) After talking about what it was alleged we had dune in getting shares and so forth, he gas on to say, " The Londonand North Western entered into an alliance :for this purpose with a man of greet note, the chairman of the Anti Corn-Law League—Mr. Geo. Wilson; damns el rencrabile ',omen. (Laughter.) Well, now, that was all very wi 11, in that place. Lord Lyndhurst knew the au dience he was addressing, he knew that when he wee address ing the Home of Lords, the mention of the Anti Corn-Law League would to raise • cry against its friends. He knew very well what he was about, but he might have been more accurate. I can only say with regard to the Anti Corn Law League that I wish we had its assistance— that body is in the habit re carrying what it undertakes— (laughter)—but we have not its assistance. A railway board hu no huriness to be mined up with political strife of any sort or political parties of any kind. (Hear, hear.) We have the representatives of various parties behind this bar, though I don't think there is • single protectionist amongst us, if there is now a protectionist any where. (Laughter and loud cheers.) I wish we had Mr. George Wilson on our board, for we could not have • better or an abler men to assist us. (Hear, hear.) No doubt, however, all theee suggestions lad their in fluence; and we lost our bills. (Loud cries of "Hear, hear.") Then there was another bill before parliament, promoted by tee Shrewsbury and Birmingham Company, the object of which was to enable them to occupy and make use of part of ear station. That bill was carried, al though it was proved by us to demonstration that nothing could be more injurious to the public service, or more dangerous. However, parliament passed the bill, but a clause was after all inserted by the Lords committee which renders it inoperative until certain legal questions are de cided pending between us and the Shrewsbury and Birm ingham Company; and therefore I don't think that in the shape in which it did pass it was altogether very hurtful to your interest.. (Hear.) These were the principal bills dis cussed during the lest session, which, short as it was, was one or the mat harassing we ever went through. I come now to another subject. Ido not see present on this occasion either of those honourable proprietors—l mean the hon. baronet the member for Benham (Sir 11. Willoughby) or Mr. Alston, or Mr. De Winton—who took such an active part at the list meeting in reference to the question of settlement with the Greet Western Company. The dis cession which then took place will be in the recollection of all °fret. It will not have passed away from your minds that I then took the liberty of telling the honourable pro prietors in answer to what had been urged, that that was not• the proper period for moving in the question ; that we must wait until the expiration of the session to see how things turned out, when we might consider what could be done. You will see, gentlemen, from what I have detailed as respects the position of the company, than as is garde the past session the Great Western and ourselves leave off very much as we begun, and that the only result has been the expenditure in parliament of a large sum of money on both sides. (Hear, hear.) However, I was not unmindful of what had passed. I did nut lose an hour after the session was over ; and I took en opportunity, through an influential connexion of this company, of seeing whether something could not be done. He also met a very influential party on the other side ; but, as nothing resulted from those communications, and es they werecottrelycoofl dential, I;do not feel myself at liberty to allude more particu larly to them, as I should certainly otherwise wish. (Hese, hear.) But, gentlemen, I went further than that; and on discussing the question with my colleagues we determined, feeling that we should be acting up to your views, to make a definitive proposition to the Great Western Company and we accordingly did so last week. (Cheers.) I will not go in detail into that proposition; for it will be the duty of the secretary to read, after the report, the correspondence which has taken place on the subject. It only remains for me to say that the Great Western Company did not accept the offer ; but put before us a counter-proposition ' which we have found it utterly impossible to assent to. •But I re. joice exceedingly that we adopted this step; and although the proposal has been related, I speak to you still with the hope that something in the nature of that offer will ulti mately be brought about. (Hear, hear.) lam led to this conclusion, gentlemen, by the circumstance that I find in the declaration which my friend Mr. Russell made yester day to his proprietors the following very remarkable coin cidence of opinion with that expressed by the London and North Western Board, In the communication made through me. lam at some disadvantage in alluding to the point, as you have not yet had the lettere read to you, but you will perceive et once the general bearings of the case. Ws proposed simple and absolute amalgamation on given terms. Mr. Russell says, to Ws quick pee day to his proprietor., alluding to ilea Semennisatien we had made, " If parliament could he Magid le adopt the views of the Logsdon and North MOM Company, and to think that it would be miss M ellisme the complete amalgamation of the two great weenies, and to rely for the protection of the pail Wen* en careful restrictions and restraint,, he kw ens einenid hell each an auspicious change in the etthile pay of tile country as most beneficial to railways eel Yle pthile." Now, If this fs the view of my friend Kr. zesel he sever trimmed &sentiment he did not beeseily*Seehde—l certainly mast still say decidedly that I Mee in lie leg that, me long, war shall bring about with IM Ciseat Wigan thee aeenys.s.s which appears to Is te be tie only enesgement fly as ever terminate the isecresa se—l men a replete smalmunatits of the two eampaaies. (Cheers.) I believe also that them has bows peat alteration in the public feeling on this stir jvet. A "my put watheeity la railway matters—l am meat liberty temenlissile mink Ow I have not spoken to Wm with • Ater te maim hie emalments public—has caroming to nee emphathally the epleies that all these attempted agnismeate are nothing bee indications that eventually there mast be an amalgamation, ander proper restrictions, for the public inter,.., of all the great railway interests. And I met say„ patience, I am convinced that that will be the hose of the contest, and the sooner that issue is at telmeilthebetter for the parties who have subscribed the capital invested in these vast undertakings, as well as for the public. (Cheers.) Therefore although our offer was rejected, I do rejoice we made it, and that, too, in the simple and precise terms we adopted; for I em satisfied there is no other shape in which it will be possible to work out any mauve ment at all, really and permanently conducive to the gnat interests of the two companies. Mr. Russell, himself, suggests no other; and I think it must be seen, seem, by all parties, that there is no other. (Hear, hear.) Gentlemen, I have now occupied sufficient of your time, at present, on this topic; end I am rather inclined to think that yea would sooner understand the whole bear ings of the ease, should it be necessary for me to make any farther remarks on the point, if I postponed them until a later period of the day ; for I feel that until you have had the letters read, and until, thus, the whole matter has been brought before you, I am speaking in a way scarcely intelligible, and therefore, if you will give me leave, I will proceed to call upon the secretary to 'read the report, and the documents, understanding that I am to avail myself of other opportunities of saying whatever may be required on the subject. I will only make this remark now. In reference to the letter we sent yesterday to the Great Western board, I think it right to state that if it should strike anybody that it contains matter which I, for one, would gladly have avoided patting in, it must be borne in mind that these decla rations with regard to the relative position and prospects of the two companies—the point I allude to—were drawn from us by what was said on behalf of the Great Western Company es to the relative value of the stock of the two companies, which made it imperative on us to place before the Great Western in reply what we thought the error they were making in respect to the future relative value of their own stock. Had it not been for that obvious necessity, I can assure you the feeling on the part of my colleagues, and my awn feeling, was that it would have been very undesirable to refer to those points ; our wish being to avoid everything that might interrupt an amicable feeling. e" Hear, hear," and loud applause.) We will now proceed, if you phw, to the report. Mr. BOOTH, one of the secretaries, read the report, as follows: " The statement of amounts just issued to the propri etor exhibits the following reselts r compared with the corresponding period of last year : 1861. 18.52. Iseresse Decrease Passongen, parcels, E. E. E. £. and mails Merchandise, Lc 453,718 467,477 13.769 ..... 1,177,660 1,136,276 13,769 66,063 Working expenses 416,420 423,304 7.884 ••• " The per maw of disbursements to receipts is, exclusive of rates and taxes, 37.25, against 34 . 99 in 18.51. The circum stances of the year 1851 are so exceptional, as to render in applicable the usual comparison between the traffic and ex penses of the corresponding period. The increase in the working charges is attributable to two causes, via., the un usually heavy amount of repairs to the locomotive and car riage stock falling upon the past half-year, consequent upon the wear and tear to which they were subjected during the period of the Exhibition ; and to the greater mileage run by engines, carriages, and waggons, resulting from the re duction in the charges for pas...engem and goods. The first of these rouses may be regarded as temporary, and limited to the half-year imm e di a t e ly f o ll ow i ng t h e Great Exhibi tion. The second, on the contrary, is dependeat upon the degree to which competition may be carried on, and will continue to make itself apparent In the expenditure of every company which, like this, has doled its capital account. A bill authorising the creation of debenture stock, to be issued in substitution of the existing bond debt of the company, as also fur the enlargement of station, at Kilburn and Wolverton, has parsed into law. The bill to authorise the junction of the Buckinghamshire line with the Oxford, Worcester, and Wolverhampton Railway, near Oxford, passed the committee of the Commute, but failed in the House of Lords. The same wee the case with the bill for the Worcester and Hereford line ; in both houses It was intimated by the chairman of the committee, that the case, as regarded the public utili'y of the project, had been fully established ; and as the formation of this extension, on the narrow gauge, is of great importance to this company, a bill will be introduced in the next session, supported by the landed proprietors and local parks acting in unison with this and other narrow gauge interests; and your di rectors rely upon the co-operation of their proprietors in giving such individual aupport to the project as may, in ad dition to the support of this and other companies interested, be required to directors have encouraged the formation, by in dependent parties, of a line from Warwick to Stratford.upon-Avon. Highly influential landowners, and others interested in central Wales, having proposed a line of railway between Shrewsbury and Aberystwith, which may be constructed at a very small expense per mile, your director§ did not hesitate to indicate their hearty approval of the project by requesting some of their colleagues to assist in carrying out the undertaking; and they have now under consideration the promotion, in their corporate capa city, of a line from Crewe to Shrewsbury—the extension of the railway system in Wales rendering this line necessary alike for the protection and development of the traffic of this company. The bill promoted by the company for a line from Chester to Birkenhead, was withdrawn on the faith of an agreement sought by, and entered into with, the Birkenhead, Lancashire, and Cheshire Junction direc tors. That company having failed to ratify the acts of its executive, it will be necessary to resume the application to parliament in the next session. It will be in the recollection of the proprietors that, as steed in the last half-yearly report, the Stour Valley Line was completed and advertised to be opened oa the lat De cember, 1851, and that the Lords of the l'rivy Council for Trade prohibited the opening, on the ground of danger to the public, owing to the proceedings of the Shrewsbury and Birmingham Company. The further facts may be briefly recorded, as follows:—On the 6th December, 1861, application was made by this company to the Board of Trade to settle the matters in difference, under the powers of the 5 and 6 Wet., cap. 56. On the 26th of January, at • meeting before the then President of the Board of Trade, it was mutually agreed to refer the disputes to arbitration; the Shrewsbury and Birmingham Company, suggesting Sir William Cubitt as solo referee, and this company con. curriog in the selection ; and, accordingly, the fol lowing agreement was drawn up and signed by the agents of the respective companies, in the pre sence of the officers of the Board of Trade. " We, the undersigned, request that the Lade of the Com mittee of Privy Council for Trade will appoint an umpire to decide all differences of opinion which may arise in the Joint Committee, in conformity with the terms of the agree ment, a copy of which is hereunto ed ; each company engaging to be hound by the decisions of such umpire with respect to such differences of opinion so referred to him." On the 3rd February Sir William Cubitt was accordingly formally appointed to act as umpire ; and on the 6th April he made to the Board of Trade a preliminary report indicating the outline of the principles on which he proposed to net in framing his award. Your directors expressed perfect willing ness to abide by the decision of Sir William Cubitt ; the Shrewsbury and Birmingham, on the contrary, refused to concur, and recorded a formal protest against the course which the arbitrator, selected by themselves, thought equitable between the parties, and which appeared, in the opinion of the Board of Trade, if fully carried ' into effect, " sufficient to secure the safety of the pub lie, as well as their convenience." Under these circumstances, their lordehips, on the 6th June, intimated that the . " were prepared to act under the powers of the ' and 6 N ic., cap. 66, and accordingly the application made by this company on the 6th December was repeated; and on the Ist July the Stour Valley Line end Station at Wol verhampton were opened for public traffic, under bye-laws and regulations settled by the officers of the Board of Trade, and your directors have the satisfaction to state that the traffic promises to equal their expectations. A resolu tion will be submitted to the proprietors, at the special general meeting to be held this day, to approve a lease, jointly with the Midland Railway Company, of the Man chester, Buxton, Matlock, and Midland Junction Railway and Canal. Your directors bare to report that the questions in difference between this company and the North Stafford shire have been referred, under the common seals of both companies, to Mr. Robert Stephenson, 11. P., and Mr. James Robert Hope, Q.C., so as to effect a complete union of the interests of the undertakings. The mat- ter is still under the consideration of the arbi triter', whose award, when given, will be submitted to the proprietors for confirmation. Adverting to the ex premien of opinion on the part of numerous influential pro prietors at former general meetings, as to the desirableness of ending, if possible, on equitable terms, the existing in jurious state of rivalry between this and the Great Western Company, your directors availed thwaselves of the first fa vourable opportunity which preemie& keel!, after the close of the parliamentary sereden, to eater upon negotiations with the directors of the Great Weans Cowpony ; and on the 4th init. the obsiman, by unanimous ramilation of the board, transmitted to the disbars of ere empty a proposal, having hr its istiew the mien of the two under takings, on tenets whisk 710118 amnia believe would hays proved mutually ademingsme Wino proprieton, and which would, at the Male limn ism sewed to the public more selosionlial bowman ern ma polar result from a con tinues* etthe existing slab of *ilk This offer has, your &redoes regret to state, hem njosisahy the Gnat Western Board. The correspondents resempanyhog ale report will fully e uestion. xplain the views el your dinners en Mimportant s q " From the statement of the half year's aossunts it will be seen WM the net linseeds are 487,7201. 17s. 44.; to which must ha Mid the her carried forward frees last so count, 1/0,4711. 16.. Bd.-660,1961. 13s. Lem—Farther aUowanes err renewal of rails (Abstract H), 14,2951. as. ; for Mahlon to narks and stock (Abstract .7), 20,193113 e. ad. —34,1008. 16. : showing a disposable balance of 616,90111. Mts. 41. _ _ . _ _ '. TiiiiireeNre sessernseet a dividend of 2i. 16s. percent how :t a. foe the els meenting te 14.41.1 L Us. IC leaving a bedews et la IN. le be waded Simard to the ant aseenat—Oneemen Oa= GLYN, Chair segme...iewlea Lemke. 1111:41 . 1862." Kr. lITIWART tin read the on which has takes pionelhebeeen the ehairmea of • Great Western sad the Lewin sod North Western Railways on the sub lets& of antslonmatioa. The correspondence, with the 111161101111 of following letter, which concludes it, ap peared le peeterday's Espross : "Loudon and North Western Railway, "Secretary's Ogles, Euston Station, London, Aug. 12, 1862. "My dear Sir,—l have to day laid before my colleagues your letter of the 10th, received yesterday, and they concur with me in regretting that our proposal of the 4th has not been accepted. We should certainly not have made the proposition at all, if we had not thought that gem speed with us in considering it the best, if not the sok, way K effecting the public and private objects which both bunk profess to have in view—or if we had doubted a the approval of it on the part of either body of shareholders--or of their carrying it out with perfect good faith—or, Saltily, of its receiving parliamentary sanction. And se to the money terms named by me, I have only to observe, in reply to your remarks, first, Gott those terms were very reluctantly acceded to by my board, and only for the sake oface ; and, next, that we had neither overlooked th e fact (w pe hich you properly mention) that you have additional traffic to expect upon some of your lines, nor, on the other hand, the fact that you are open to the chance of abstraction of pre sent traffic from others of your lines ; nor the fact that you have between three and four millions of capital yet to bring to the debit of your account, whereas our capital account is virtually closed ; besides, that if you falfil the engagements with third parties, to which you demand our assent (1 allude to the Shrewsbury Companies and the Birkenhead), they will involve a further charge against your revenue of at least 160,0001. per annum, in addition to the interest on the three or four millions to which I have just alluded, and this at the moment when you will, in conformity with your act of parliament, have to reduce your passenger fares over the whole of your lines 20 to 25 per cent.—that is to say, to the fares which the London and North Western have charged for several years. However, as you observe, it is superfluous to dwell upon these topics; and we merely advert to them for the purpose of adding that we believe we did your undertaking full justice, in naming the:money terms of smolgamatico, which we are suryrired that you now refer to as unsatisfactory. It is still our conviction that, complicated as are the rela tions of the two companies, ' absolute amalgamation' is the best, if not the only, means of giving to the public the fullest advantage to be derived from both the undertskines, and of maiutaining for our respective shareholders a fair and moderate return on their capital. We believe, also, that per. Lament would have come to the same conclusion, had you concurred with us in laying before them the morel facts of the case ; for I think I may say that experience has shown, to the satisfaction of almost all men, whether in or out of parliament, that what is called ' oompstition ' between 1 railway companies, is, in truth, merely a step towards ulti mate combination, and attended, of necessity, with very considerable inconvenience to the public in the meantime. We feel the more confidence in recordiag our opinion to this effect, Weans, it has had the deliberate suction of your board as well as mine ; and certainly, if amalgamation was desirable in 1819, it is not the less so now, when the capital of each company has been still further and largely extended for the public accommodation. I purposely re frain from alluding to the arguments with which you now support the opposite view, because, as you are aware, we entirely dispute the accuracy f the facts on which those arguments are based —as to the Shrews • bury enter lines its particular and it can answer no purpose to here upon those discussions. greed board having declined our proposal, we have given your counter-proposition our boat attention ; but 1 reget to say that we line ourselves wholly usable to accept it. In the first place, in order to its being of a complete and per manent character, taking also into account the complicated engagements and alliances of the two companii a, it would necessarily require parliamentary sanction ; and if there be any force in the objections, of a public nature, which you suggest against absolute amalgamation, they equally cooly to this, your proposal of a partial amalgamation, including, as it doe, some fixed apportionment between the respective companies of the net proceeds of all such traffic,' that is, of all the traffic to be nominally competed ter. Again, it does not at all meet the difficulties of the two companies in rela tion to third parties, and would involve an abandonment of our honourable engagements. his made to be contingent, , moreover, upon the assent of other companies, described as ' in alliance' with you, which assent, it cannot be denied, there is no probability of obtaining ; and, lastly, your pro position is so general and vague in its character and lan guage, that it must irevitably lead hereafter to disputes, while it lacks the important elements of simplicity and sta bility, which the nature of the case an obviously requires; and you cannot forget, that the various attempts hitherto made to effect a satisfactory arruncement on any such prin ciple have signally failed. Our endeavour was to lay before you, on the present occasion, a proposition for a complete settlement, on a broad, permanent. and intelligible basis; and, in conclusion, I have only to express the sincere regret of every member of toy board, thrt the effort bas not met with the success we had hoped for. " 1 rentaio, my dear sir, faithfully yours, " GEO. CARR OLYN, Chairman. "Charles Russell, Esq., Chairman, Great Western Railway Company." The CHAIRMAN then moved that the report be adopted by the proprietors. Mr. TITE said there was a suggestion of the auditors that he thought worth consideration. It appeared to him to be a matter of exceeding importance with regard to their dividend. Though he should not for a moment suggest the opening of the capital account in any way whatever, still ho thought that the abstraction of so large a MCA AS 77,0001. from the dividend funds in one year was an exceedingly large amount to ;say out of divideill for additions to perma nent stuck. The auditors in their report stated that "in consequence of the capital accounts being closed all additions to the rolling stock and works are of necessity to be charged to the revenue account. The sum of 20,000 1. has thus been debited to the accounts of the past half.year, which, with the sum of 57,0001. charged in the half year ending the 31st December, make,' 77,0001., of divi dend expended purely on capital account, deducted from the profits of the year. While your auditors could depre. caul any proposition to reopen the capital account, they nevertheless think it worth consideration whether some mo dification ought not to be made in the arrangements by which the cost of additions to stock should be spread over five years." He agreed in that suggestion, and ho would put it to the chairman whether he would make an addition to the report that the subject be taken into consideration by the directors, and that they report specially upon it at the next meeting, and that the auditors in the meantime should be at liberty to make any change. Mr. MOSELY suggested that the subject to which Mr. Tile's resolution referred should be brought forward as • specific motion. Mr. TITE moved a resolution to the effect that the suggestions contained in the report of the auditors, in respect to the present mode of dealing with the account for providing for the increase to the permanent works and stock, be referred to the special consideration of the directors to report thereon to the next meeting, to act thereon as they may deem expedient. Mr. MOSELY, in a low voice, urged the merits of his resolution, which differed only verbally from that of Mr. Tits. We understood him to contend that expenses fur works should be spread over a number of years, and not to be taken arbitrarily from one ye ,r's traffic. After some conversation, Mr. Mosely's resolution WAS withdrawn, and Mr. Tite's put and agreed to. The CHAIRMAN—Then we understand that the motion amounts to this. We understand that there is an expres sion of opinion on the part of the proprietors that they re quire an alteration in the existing system ; but the mode of that alteration is left entirely in our hands. The following resolution was then passed: "That a di vidend of 21. 15s. per 1001. stock, and so on in proportion, on shares of a lower nominal value, be now declared out of the net profits of the company up to the 30th Juno last, upon the stock and I shares of the proprietors entitled to the same, after makingor slowing such deductions as are directed by the company's sets in respect of amounts not paid up, and deducting the proportion of dividend payable in respect of any period for which the proprietors of shares are not entitled to dividend." The CHAIRMAN then said the next resolution was one providing that 168,355 251. shares, created in 1846, be con solidated into • general capital stock. This (observed the Chairman) is merely formal. It is simply to turn the whole of the shares on which calls have been paid up into consoli dated stock. The resolution was adopted. Mr. MOSELY again addressed the meeting, and re ferred to the observations of the Ckairman,:in respect to the correspondence with the Great Western Comi any. He (Mr. Moody) thought any arrangement could not but be better than the present state of things between the two companies. He certainly feared great impediments. He had seen a good deal of the Great Western Company, and he did not sec the obstacle in Mr. Russell. The CHAIRMAN—(The consideration of the question' involved in the correspondence with the Great Western hay ing been resumed)—This is a very important subject ; and I cannot help feeling that the more discussion we have about it, the more likely are we to see a success ful termination. (Cheers.) I still adhere to the opinion, and it is the unanimous opinion of my col- leagues, that the only possible mode of getting rid of all the difficulties and of all the entanglements which exist in our relations with the Great Western, is by a simple act of amalgamation. (Cheers.) Therefore, gentlemen, unless there is a decided expression of opinion to the contrary, we shall feel it our duty to continue in that course of policy which we have commenced. (Cheers.) I may take this opportunity of offering one or two observations upon some remarks which Mr. Resell made yesterday. I will not oc cupy your time long ; but I do thiuk it is very desirable that an impression should not go out to the public that there was anything in the offer we made to them which was not fairly and sincerely made by us. (Cheer.) If hon. proprietors will take the trouble of reading our first letter, they and all interested in the Shrewsbury Companies cannot fail to be struck with this, that we did particularly press for the proper settlement of the interest of those two com panies. We pn.ssed for that in a distinct and fair way ; and I cannot give better authority in respect to that than Mr. Russell's own declaration with regard to it. Well, gentlemen, what were the difficulties to which Mr. Russell alludes as to the amalgamation ? Is it whether parlia ment would carry it out or not ti It is quite clear that Mr. Russell. Is his counter-proposition to us, does propose se astalpmation so far as the public interests are eimeneed. Me gets rid of competition, which is nothing Mit omalpmeLion, by apportioning the traffic be tween parffilMor Owns • and he states no difficulties, except these or 1 riespat Of tin ' Shrewsbury questions. Coupling Ibsen fhb with Mr. Reweirs own declaration, which I have Awed, se to the value he attaches to the simple act of I sans* Imitate believing that he himself =reiliftk the whereto forth, course we are proposing, pro vided the Met wee nut with regard to those companies. beig t ) How did we propose to act ? That an areal- MI amid be introduced into parliament, that ate 15trewsbmip Companies should have the choice of either offer, and siamal mint for themselves, and that the bill for asalswitelieg them with the amalgamated compsny should be in Aides come asinion as our amalgamation bill, and theeld p empori paw with it—that is, as the larger ernalgantatiest mist ea the minor bill should go on too. Mr. Russell Nye it would bare failed ; possibly it might. I admit that. What would have been the result ? A delay of twelve ammthe would have taken place in the fact of the of the Shrewsbury Companies; and all barn would be that they would still have p la with that arrangement in another see stow with an interim dividend in the meantime. I my, therefore, if you look at it fairly, that the only people who could complain of our proposition were the lawyers on all aides, who, I won't my, would be defrauded, but de prived of their gains for twelve months. (Cheers and laughter.) I cannot really help thinking, then, that if the proprietors of both companies are seriously determined, and I think they are coming to the determination that some thing most be done-1 don't mean to end with the Great Western—and that the best system for the country is that such amalgamation should take place, and that all should be put under proper regulations-1 say that I really cannot help thinking that Mr. Russell and his board will y e t see occasion to alter the view they have expressed. (Cheers.) At the same time if they do not, I candidly confess that no alternative will remain but for the proprieten to take the whole question into their own hands, to pass by the directors and the officers of both companies, and to say, " Gentlemen we won't have our property frittered away any longer—we don't care who governs us. You may manage the traffic, but the policy of the company shall be directed by us—and you shall come to terms." (Cheers.) Us ntle men, that is what will have to be done ; and I am very sure that if that is done the question will soon be settled. (Loud cheep.)) Mr. BASSETT quite agreed with all that had been odd by the chairman ; and if the proprietors would take the matter into their own hands, with a clean slate to begin with, there was every probability of some good arising. Mr. DEAN, as a proprietor, begged to express his opi nion that he regarded it as most gratifying that the pro position for an amalgamation had proceeded in the first instance from the London and North Western Company. Mr. RAMSDEN had attended many of these me .tings, l and had often had occasion to feel indebted to the chairman 1 1 for his conduct ; but he hail never hail so much reason to feel more grateful te that gentleman than for tie views he had expressed that morning. This was a very serious ques tion—the question of amalgamation—for the Great Western proprietors and for the proprietors of this company. Endea vow a bad been mode for a long time put to determine the disputes between the two companies ; but ho thiugbt they were now nearing a settlement . Tho proposition now m.de by the London and. North Western was straightforwed and intelligible; but the counter proffer of the Great Western board was not so—it was in tact a most complicated pro- posal. (Hear, hear.) And as far as his judgment went what was clear and intelligible was preferable to that which was complicated. (hear, hear.) Allusion hod been made to difficulties arising in connexion with the Gr.. Western from parties wits were neither the board nor the proprie tary. He was far from wishing to mention mums invi diously; but he did fear that there were interests at work on this question with which the interests of the proprietors could not be identified. It was time that the Oreat Western proprietary should open their eyes to their own affairs, and if di ffi culties did arm and if they di I iiriginate or continue to exist in the quarters to which he seas alluding then such interference should be taken up by the proprietary, in order that it might at once be put a stop to. (Hear, hear.) It was a fearful tniog that the thirty millions involved in this company, and the fifteen or twenty million, in the Great Western—shot such enormous intereid- as those should be lost sight of, and that certain individuals should be permitted to use such influence in the admuu tration of affairs as to get complete control into Omit own bands. (Hear, hear.) As to the proprietary themselves, they had nothing to do with it. This ought nut to be the What was at stake was the capital of the proprietary, sot the capital of individuals. (Hear, hear.) Well, then, let the pro prietary see if these disputes could not be put a et ip to. Alter a few words from Mr. MARSHALL, A resolution MU paused, appointing the folk w'ng gen tlemen to select auditors :—Mi s-re. George Hadio id, Foster, Alexander Hoye., Vansitturt, anii Riley. A resolution was alto agreed to, appointing iil don and Banbury auditors of the Coventry and Nuneaton Company. The meeting then resolved itself into a meeting, for the purpose of considering the expediency I.: creating, and to create, a certain amount of Lnn ton ci.l North- Western debenture stotk, to be issued in rubstite:Mn of an equal amount of the existing borrowed capital of the com pany. The CHAIRMAN then moved • resolution, the directors to substitute any portion, for any yartiou of the borrowed capital of the comp my, not exe. • ding five millions stock, of a corresponding amount, at a toted die count, not exceeding per ci nt. per annum. Alter some discussion, the resolution was ogre. n to. The meeting had also been nude special fur te., purpose of considering and determining upon the experli 01 en tering jointly with the Midland Company into " i agree ment with the Manchester, Buxton, Matlock, aim Miellisard Junction Railway Company, for leasing that railway awl the Cromford Canal. The CHAIRMAN said this company were parties to • bill, on certain terms, to enter into an amalgam-ohm veldt the Matlock and Buxton Company. The Midland Cos pony and themselves had agreed to rive that conipeny 2f per cent. upon their capital. Ito did not prettcd to sty that he could show them a profit ; in fat there a..* aleror 1,400 f ; but yet there were motive of policy than rendered it highly desirable that they should take this ling: into their hands. The chairman then moved a resolution ..whorisiei the directors, in conjunction with the Midlands C.lmpriny. to take a lease of the line in question for n years, at a rent nut exceeding 2 per cent. upon u.a capital invested. On the motion of Mr. MUSELLY, a vote of 'hank.; was then passed, with acclamations, to the tha man and directors. The CHAIRMAN said they were always 11,7•py to re cave the thanks of the proprietors, but he was p rttrul.irly pirated with the spirit evinced to-day, and he h-ped they would all sot about the anialuamstion in earnest. The proceedings then terminated. YORK AND NORTH MIDLAND RAILWAY. We subjoin the most important passages in the report of the directors, to be submitted to the thirty-second half-yearly meeting of proorietors, to be held in the De Grey Rooms, in the city of York, on Tuesday, August 21: The following is an analysis of the capital account: The amount of capital rai+ed by this company to the 30.11 June, 1853, consists of—Consolidated stock, 3,210,646 e Os. 2,1.; preference share capital, 6.58,9411.; debenture debt, 1,581,5511.; total capital entitled to dividend and interest, in addition to rent and interest of bonds of the Hull and Selby Railway, 5,135,139/. Os. 2d. The heads of expenditure of capital during the past half year have been as follows:—In payment of numbest, of land, 13,4741. 15s. 4d.; on engineering works, 22,1,321. 195.; on new buildings, 6,5861. Is. ; parliamentary and other ex penses of carrying out the amalgamation with the East and West Yorkshire Railway, &c., 1,2491. 9s. ; en additional rolling stock, steam packets, and lighters, 26,756'. 189. Id. The principal items under th_ head of engineering works, have been 16,0591. 19s. 3d., in discharge of the balance pay able to the contractor for the Knottingley branch, and 1,3261. 149.6 d. for some extensive sidiags which were re quired at York, to afford adequate accommodation for the coal and coke traffic by the Great Northern line. The out lay in buildings has arisen principally from the erection of an additional engine shed required by the Great Northern Company, for which they have agreed to pay un adequate rent; an extension of the workshops for repairing waggons, dm.; works at the Hull Hotel ; and the erection of corn warehouses at Beverley, Drittieldone. It hu again been found necetiary to augment the carrying stock of the comrany, especially the goads and grain trucks. This outlay, though strongly recommended by the goods manager, was not acceded to by the directors until they were convinced that the increasing traffic of the dis trict imperatively required such an expenditure, and would yield a profitable return fur it. The claim made by the Messrs. Crawshaw for 142,560/. hag at length been disposed of—the arbitrator having fixed 34,1761. as the sum which they were entitled to receive from the complay. The directors consider that they have reason to be dissimilated with this award ; but the Court of Queen's Bench having confirmed its sufficiency an a legal ver dict, the directors had no option but to pay the amount. The York Hotel is now covered in, and will in a few months be ready for opening. The directors believe that the estimated cost of 8,0001. will not be exceeded. From tho revenue account we learn that the receipts from ordinary traffic during the half year h a ve been 194,3481. le. 9,1., showing an increase of 15,531/. 18s. 3d. over the corresponding half-year of 1851 ; and after making allowance for the receipts ea the fifteen miles of the East and West Yorkshire branch, there still remains a satisfac tory increase in the general traffic. This would have been still more gratifying if it could have been realised at a leas cost; but the disbursement side of the account shows that under the three heads which represent the cost of working the traffic, viz , the locomotive power, coaching and mer chandise expenses, the increase has amounted to 7,3351. 15s. Bd., or above 47 per cent. On reference to the return of train mileage, it will be seen that 123,429 more miles have been run than in the corre sponding six months of 1851, of which 24,802 only base been run on the East and West Yorkshire line. The balance available for dividend on the ordinary stock of the company amounts to 16,7891. Ils. 3d. ; out of which the directors recommend that a dividend be declared at the rate of 11. per cent. per annum (deducting income tax), .saving a balance of 5951. 189. 9d. to be carried to the credit of the current half-year. A considerable sum has been expended out of revenue during the half-year in re pairing and renewing the rolling stock. The revers, fund for renewal of permanent way has received the serious attention of the directors, and the actual cost of renewals since the fund was established (November, 1849) IMP been compared with the estimate which guided the proprict,,rs in fixing the amount of the fund. 'The report furnished to the di reetors on this subject by Mr. Cabry, the company's en gineer, and founded on the result of relaying twenty five miles of double line, is highly satisfactory, showing that a saving of about 8,5001. has been effected upon 36,5401., the estimated cost of the work already executed. YORK, NEWCASTLE, AND BERWICK RAILWAY. The directors of this company have just issued their report, to be submitted to the proprietors on Friday next. It states, that the receipt, for traffic during the half-year ending the 39th Jane last amouuted to 360,212 1 , and for the corresponding period in 1851 to 351,474., showing an increase of 8,8371. The working expenses for the former period amounted to 144,2021., and for the latter period to 136,7661. showing an increase in the expenditure of 7,4361. There has been as increase in all the various sources of , except the passenger traffic, in which there is • decrease amounting to 2.0621. The increase in the cattle and merchandise traffic is satisfactory. The directors have made various reductions in the dues on coals for export, by which some collieries at • distance from the ports of shipment were kept open which would otherwise" have been closed, and others were enabled to ex tend their operations. By these means the export trade has been increased 73,450 tons, and the inland trade 147,368 tons, making • total increase in quantity of 220.818 tons, and in gross receipt, of 13,420!. over those of the correspond ing half-year of 1851. The additional quantity of business done in the mineral, merchandise, and cattle traffic, has consequently entailed a considerable increase iu the mile age of the engines, and generally in the working ex pense,. According to the terms of the lease of the Hartlepool Dock and Railway, an increase of nearly 2,5001. per annum has taken place on the rent payable by this company since the let of January, in consequence of the conversion of •debenture debt 0175,0004 into an 8 per cent. guaranteed stock. Of these debentures 36,9681. has been paid off, and the company have in hand the "balance (38,031!.) received from the Hartlepool cons panj. On all the loans falling duo in the coarse of the half year the interest has been reduced or the bond s paid off. The total amount of the purchase of the Great North of England Railway was 3,547,5001., of which there nuw re mains unpaid 2,343,9221., and the amount of the first series of purchased debentures, payable on the let of July, 1863, bas also been reduced to 411,742!. The permanent way is in good order, and the whole of the rolling stock has been maintained in • perfect state of efficiency out of the revenue. The receipts fur the half-year amount to 367,8391., after deducting the working expenses, the net profit is 223,637 L, and after providing for wayleaves, taxes, rents, irderest, guaranteed dividend, and other preferential charges, there remains • net disposable balance of 86,6771. The directors recommend a dividend at the rate of 2/. 161. per e sat. per annum on 6,099,0541., the share capital, entitled to the cur rent dividend, leaving a balance of 2,8161. to be carried forward. The directors expect that the Peneher branch will be opened in October next, and the Think until Melton branch tbout the same time, or a little later. The report of Mr. Harrison, the engineer, states that no fund being pro vided fur extraordinary repairs of the rolling stuck, the Principle has been carried out of keeping the who!e stock in a perfect state of efficiency, five new engines hiving been paid for out of revenue during the half.jcar. The general statement of the whole of the locomotive inginee shows that 167 engine, and tenders are in. - condi tion ; 17 requiring consid era bl et o fp a it t 'sues building, 16 requiring trifling :vetoing ' s., t• frIC • : • • rn GO