The Express. — London, England, 1850-08-29 00:00:00

Aft day aril all breams dad pot nun of dud,. net& ' w hich reat weld tie i lit saltg:e fraction of it w eM could it be expect. d ; 21 0:aatt d road all la if it . . (• be cosolestosell Pet this e. tar et; aof Mareh. They took ore' ma-a th llied ler to able the kit oe e 't Peek.e- ▪ • ' • rd.ifeteut csedition, „ rro uncling them. These xe wa s a bleach-yard and , - , connected three thee pet into . They thee' pv , -the I state." Finding *bast twelve hundred wee ;fret rsble lard they divided it into two portions, it ,mien to att , act anybody who might incline to a Sr " a i on however defecate. These two lots they !r• m payment of the head-rent, which.they, u pon the main property, comprised M eaeglp s i & so upon 8.000 acres. As the principal per tomo, the watery resided upon this Jorge lotait was u npd :hi! it would be able to beer the burden et ' peels( t payable to the Marquis of Sligo. 'rho o :e.e tbas d:entd was put up for sale, and with the i x imiting results: Ile beech-yard and premises brought 300 L, or 21 • purchase t the lot oonsisting of hoarse sold for ,er years purchase; the two smaller portion* e ;gal sold 5w 51 years' purchase; the large lot the 6001., or 11 year's purchase. The pi/r -ester f the Met three luta was a Mr. Peter ArlAugh -If. a wide* of the family holding the (state. As 'f euded the large lot he was noehle to make good pvcbase-money. The party who pu the. gaitlard thereupon west own to examine the w e., and upon his return decliued to take it at 11 • purchase, upon the ground that it was impose :..e property could be mule to pay the head yr.:. The matter remained is abeyance until the Juiy. when the lot was solo put up to action • emam saloons. It was then bought by Mr. f.,-ch. a Dublin solicitor, who hoppeued to be pro till far 4731., or only 75/. more than the annual ors: it was rep's. n•ed to produce. Mr. Frenek tut : Zorn to see the property after purchase, and tea...) returned with the opinion that the property c: ii rot br made to pay the rent, which would be • cue nit to Lord Sligo. This gentleman br t gane his bargain, and the consequence is tt.t• the m.iu por•ion of the estate remotes unsold. k:ther aNatene bad emu was the case of a pro- K ry shish sold we ll:-170 acres of land belong •he assignee of a Mr. Justice, at Mallow. Tru gr.•.i: wee a t.ound an acre, or 1701. a year, and this ps rely was bought fur &VAL or five years' purchase. 1,..n examinee the details I find that this property vie en ;lel to 321. a year head rent, and an mustily re ;slab!. of GO/. a year. The real present value, v z !,re. was not 1701. but 781. per annum. The era out realised therefore was not 5 but nearly 11 swi purchase money, and I should mention that this ss•e•e as, among the earliest disposed of under the fir .11,. )1 r ar thus taken the case of the three estates have sold apparently at the lowest price., I will t r_ the other side of tee picture and speak of three es!s t r s which wild at rates apparently un•essonably two cane in the month of Jane I find that lit war mid is spectively at 33 mad 42 years' pur c:..w. O. .if those lots was, I mentioned, a bair ns: charge ura nearly 700 acres of land beleeging to a Mr. Freesias, in the wary of Cork, the real rite of *hieh is not clearly ascertainable, being ne ws/ray depondent npoa a variety of circumstances. Pars was great competition for tom lot, there being az Mike!. aced no less than 39 bidding. be fore it was acid. It was ultimately bought ty the owner of the land, who obviously had west merest in bearing the purchase at as et any rice. The second case was almost a repeiiion of the foregoing; only that the rent charge ere bsught, it is believed. se. a apecol ',doe. Bat tie third case was more remarkable. 38 acres of Ltd belonging to the estate of Chambre Corker, a tizor, in the cvur.ty Cork, realised 7001., or 48 years' I-arches/ nr.on the rental of 141. 10.. per annum. Tie csnss of this very large price being given for this propert, is explained as follow.. The land is let to three ciittier tenants, .ons of whom holds 22 acres n:on a nominal rental of ls. a year. The lease of this tenant expire. on the Ist May, 1833, when the rent of this portion of the property may be raised to V. or more per acre. The fu'ure real rental may, thertfo-e, be taken et nearer 401. than 141. a yell., at which price the land ail have sold at the value of about 21 years' purchase, instead of 48. lathe us. li th t s ir UMW August ee— tbedolegthee ware Ma froth ethifereem *Oh the amunidua of the 1. deal Meted that, ameedise ens to th dir e Obi is hied Yereeited fees die ective Pro model! Se tasks the Waft offer, via.: tr• To Meidathe4eht lam a asaselidand ad mss thaelfillated tied, to New la the Let eategoey the 'Mole WOW M the and 6 !mm *eat. active. debt, both domertf• salthmillse Weeds, therms tree Mat. interest, from 1861. hula" the ffearlser pen; ailimireede to inane, I permat every twit gaine, so sate maim a permanent interest of 3 per cent la the nieeteestit year. To admit into the masolidated crock the tett yeas' Charm dae spas the active debt for th. a whole prearipel, eo as le cohort them into a consolidated debt, bearing interest at per neat. from 1861 for the lest fear pears, to be augmeatied afterwards f per mat army two yoarsole ea to wet ee fa the sinethenth year • permanent interest of lfkgree mate The pmeive debt by this prep *al would eseatie tee ett 'be &Mil in the an.courelidated debt, lead hr Ihe Idiellhatiele if the whale of the latter debt, in which would be I the domestic debt, without ia erese, i r a te the other debts at present noo-coasoll datie4, hommistalea offend to *alga nuansily the sum of 10,000,000 to 20,000,080 of retie, sad to admit the math mersover is payment of purities-6 of the property above meetimatin a proportion to be previously axed. The commission declared that the Directive Junta would set recommend the aartold proposal for the adoption of the "overcome warm the deleaa•es, oa their put, would at the same this. ening to recommend and support the Mate in their risen tv. emiseittees. The del-gatee, on »finis( to their lostruetiove, fled a difilcalty to make ma a veconsineudati is but, In order to Om a prof of their good Intentions, they promised that if ha the project referred to the c 'upon. due should be treated on the saute footing as the wive debt, and provided en meltable arraugmeet were c nee to as t swag the deferred mock of 1131, by ittchnie• the latter in the consolidated debt as well as the pismire debts la the pr-pation mentioned be the Routh& propeeela, then the delegate* would room- Mead the prolongation of two pars Ire the seals of payment el interest as the president had proposed. The cominiseirn replied that the above anemias was not aplielent, inasmuch as the proposition made at the coo. Mitoses of this day was the ultimatum of the Directive hos. The delegates, canamoently, declared that they Maki titre advice thereof to the &Serene committees. The Spaniel' delegates not having been able to attend this sitting, the onnferesos was Named la their presence ea the 13th of August, aid is this session they declared that they .old not camases in the astogestloa pet forward by the emonaissioa of the Directive joule at the tamer meeting, sloe they considered it imedieiene, liming even bend the English proposal below the level of their demands, aed that in their opinion tie government ought to commence the scale at It per mat and to Mervase ii f per cent. one ell y, SO as in BIS years to pay the 'thole 3 per ant. To this the mmationate replied, that in its opinion the marmot did not pommel !Mac:WO reeetersei to easbie it to do more, and that the Directive Junta will eossia' as its Maus We, consequently, request your eseelleueg to have the goodum to cetera to us the duplicate of the preemie letter, tasaielad with your certificate of Its correemess or with reatificatimes thereof. We gladly avail ourselves of this oseithion to repeat to your ezeelissey the easuranee of the profound respect wilt which we have the home to bo— las: meat hatable and obedleatsmaats. D.ll/1111. WiIBWIILLER, .7011 N "To his Excell-ney Mr. Maass! B-rtram de Lis, Presi dent of the Dir etive Jots of the P.M. Debt." [Trauelated ham the SPlabil " Madrid, hag. 14. 1830. "Th. proposals made by the commimion to which the (Uremia. Junta ot the debt had widened the charge of con- Merle" with the delegates ate the same a• those which are Melted M this letter, excepting what is mentioned respelled **year 1831 in the lest proposition, bemuse the commis elearrs merely proposed ou this poiat that 1 per mat imarest ehesid be allowed during the first four years. IIANUIII. BSZTALK DI Lee." The CHAIRMAN said there were two more letters--oae attdressed by himself to Mr Weiswei.ler, and another to Lord Howdan—whisk would bring• the matter up to the present time. He did not think it nenewery tO read all the other letter., fsr any g' u•leman might see them at the once in No. 3. Clasen 's -line, and could judge for himself. The leltre to Mr. Wellstonler and L rd Hoyden were then reed to the wring, and weee—in effect t 3 urge the tamer to obtain better terms if possible, and to request the suopert of the latter. It will thus be seen that the question of ossproinhe wage° far brought to a point as rendered it necessary to consult the boutlhald re, and setertalo whether they would anode to the terms offered on the part of the Spanish government. The committee, alb, due consideration, suggested the propriety of athering to their original proposition submitted to the government, sad shot some slight desultory discussion, the fellowie g resolutions were passed, with a very few dissentient voices : ftesolired—" That this meeting having taken infoormsidera. ties thew ate of the negotiations of the deputies in Madrid ebb the dpen lab government, and having heard the stalemate sad exelamations of their committee, is of opiniea that a mode rate compromise should Le enured into in respect of the elves' of :he bondholder., and himg fully aware of the great unifies they are soaking to the government of Spain, fn consequence of their &lifted flasacial difficulties, till, rely that every 'tot will be made by that government sacredly to fulfil the engagements sew to be ordered into, and meeting treats that the liberal manner is which the ben . holders consent to abandon so large a portion of their debt% the bin amount of which they might justly demand, will be met in a reciprocal spirit by the Bpsaish government, and that the very moderate terms now sought for by them win be at ones conceded." Remolved—" That the committee be authorised to enter into an arrangement with the Spa, lab government for the settlement of the claims of the Eredish bondholders on the (*nowt's, terms, vis., for every 1001. Active Stock, and the mu yews' wears of divtdend which will be due on the let 0 November neat being 1001. sterling, 1301. Active S o ck shall be given, the said stock to commence bearing interest at the rate an per cent. per annum from let 0 January, 1851, tbe laid interest to be payable in Leaden halftyearly, on t►e lit of July and the let of January each veer, the interest on the said stock to Menem at the rate of 6.. per cent. every second year until it bestow s a Three per Cent. Stock ; and that for every 1001. Passive Steck tiers be given 331 6s. Bd. of the like ewer jos of stock, wad to footless to like manner to 31. _per soot. The business of the wootios eoottladod with resolutions warmly thanking Lord Pehunters and Lord Hoyden for the very efficient aid they had rendered to the boadholden, in are,' their claims apps the Spanish poem sumac without making it a dimly diplomatic question ; and also to the ryas for the very tillaisat aid they have readerod this bonds DUCHFAS or OLOOCILSTER has arrived at Plea Newydd, Anglesey, ore a visit to the Duchess of Cambridge. TB, PainCe or LIIININOEN left town on Tuesday evening on a visit to the Duchess of Lent, at Abezialdis Castle, Aberdeveshise. FUNERAL OF THE Ex-LINO or FRANCE.—Yester day morning, at 9 o'clock, the body of this illustrious per sonage was deposited in the leaden coin. The whole of the family, with the Abbil Goethe, he., were present, and the was was hermetically sealed. The interment will take piece on Saturday at as seer! y hour. There appears to be some doubt so to the place of iatermeet. Tag FEEL MONUMENT IN MANCHESTER. A swing of the subecriben to the fund for the erection of a states to the memory of the kb Sir Robert Peel was held yesterday shamus, ia order to emeider the return mends. toe of the committee, whisk was that the statue be a simple we of bruise, and mealed he the pounds of the Infirmary. The mayor, who paddled, announced that the enteeriptiocis now amounted to upwards of 6,00011., 4.2211. of which sum bad been pahl We the hash.—Mr. Henry, moved a gesslatisa traps Mag of dm determiaation of the essemktee, sad rammasmilling he adoption by the sub. scribes& To this neeladas an anmedneeM was proposed, the east of whisk was sheathe Mateo shoeld be clothed " ta the habit of his own op sad ormatry." A warm dimes. stela enema ups We plas. may gentlemen maintaining that the states wield lack ridisidens if attired is the drew which Sir Robert Peel usually wore ; and that it would be a violation of all the rules of propriety in art to employ mu llein( bat the Ramp toga or other loom drapery. Ulti mately, however, the amendment was negatived, sad the original resolution adopted, a committee beim appointed to menage with regard to fetus proceeding& ANOTHER Ott EarLoaion.—A few nighti dace a young man in the employ of Neon. Wheet sad Ro berts, writhed/opus, of Seagate row, Chester, on going into the parlour at the beck of tie shop, dissevered that there was as memos of gas in the place. Re procu red t a light, and head the tape were turned off; bat be samMis to kaow from whose. It romped, he mounted ato end tried; sad in moving the light aloog the addle, modest of the chew dollar, the gat ignited and blew him off the table. As soon as he maid recover himself he roe into the collar, mad turned the gm off at the meter. All *he Wan be required, we are , ;Jetta state, was in having the skis burst off am side of his hoe, sad part of his hale. By the isms .1 thee:plaice the bask and one of the side walls of the home are separated I l a b ait two leeks, from the Wadies, sad the pantos windows shivered to atom.. A' ac ideals of this deseription are of common occurrence, persons shoal& observe the mane', whore then ken escape of pa, of sot, tender say itignmeteagee, taking a light tor the purpose of asoeruitahm hem whence it proce& The only tato sparse is to tarn the gas at the main, and throw °padre windows and dews, se as te create a thorough surest of air, until the escaped pa bosoms so dilated as to be beraelem Coal gas, mixed with twelve porde.' of atmosokseisair only, Is on. of the soot spleas stets knows. Occoutirwee—Yesterday afternoon a ponies of the new bedding in mane of secret ca at the seas of New Ozhed-strest, Tottenham-comet-road, fell with a trenteadelts amt. A large quantity of the material Ifell ea the footpath and roadway, sold Gomel penes who Wpm' le be parks were iesoly Inbred. earl illieriswiable Ist new • latitho; of slw,tn l inej .at do 4 a 'nig 0 . r i • , obtain i WIWI . 41 0. 4 4 W is; W • ' A could be ley' .. By t i im p ala to peak; 011.41gWao IP atilt. ;bit I Ittlikolki- 04 if Ilehlielmlenef.ee Mae ilabi Wm? , woe . . WON ma sa —...... .mipg irittligsrt ofgoL.6..eleasil4.44t to • mak% - 4 tesiiteer3obea 4 ire ft ; r i lit :4,f i i ,‘ lo t . , 1 1 .1.ertgik, t sok tie se area* linfo pall* Winer WWII Wilittirakbi 'et OM to i kiktiliOt say aidansat . le WI Wrap weeer; 'lt teal Them ofo* ilolio IMF ' too My** * ie the elealida44 debt.lhe Impose a 4 an d were finir meg il! ~__,...: 16: *if liliAla espial, 444 4140 ths &fared we they po e t into one lot, r i r et 104 r. p.,.t.. 4.bto is a' lik roortio, vo wow premise onaseeted , wistmego n ;n t It essawatt:2 4 :tir lias °a Zr,,,, t dr e t i t e c ii ‘ another lot 71L12 thee ars anewroannonnegainsv.• Id a,.. or. f - V.• el SPANISH BONDHOLDERS. lcaterdly a meeting of Spanish b;ndholdora took ;see at +he Londoe TSWIM, Bishopseste-street. JAMES CAPEL, E.g., haviag taken the chair, mid they wire eased together to remise an amount of the slats of the zegotiatlons of the delegates of the foreign beadlieblers, and cf the home credit-re of Spaia, with V. govezameat. He tasesht the best way to put the meeting in possesake of that ma for him to read a summary of the negoliatiom with Ek1291 Bernal de Lis, t►e presid.nt of the Spanish commis -I:tt. The following letter was them read to the meeting: [Duplicate.] Madrid, August 14, 1880, Your Excelleoey,—The noderdaned, Mr. Daniel Weis r•preientivive e the London committee, Mr. J. Werth' im, chairmen of the ernmaittee at Ams•erdam, co ia*.tiate of the creditors in France, Prowls, end Belgium, with the view of ensuring correctness in t►e report which they 4... it their duty to present to the eommittas which they have the honour to represent, take the liberty of mie n-ming to year Excellency a recapitulation of the result of it. enfererees, which the conindwion appointed by the Costive Janes of the debt wee pleased to grant to the dale. pies of t►e different. committees. It the toeference of tee 29th July lest, hie Excellency tte peseddeat, a the agate of the Dinettes Junta, baying wed ter hie oyiLioa ttat the reoeurces of the state did Let allem of ea arreattentent of the debt wit/toot a large wizens* of the espicdo, considered that the goverusria. was net Is a eolidition to swigs more the, two t misdeed S ame( reels per sasss fee the Interest of .11 du debts, L 2 domino and foreigs; sad eeseiderieg that the 3 per cc% stack, whids cogqt to reseals intact, requires the saw ti Lacy 6re millions of reale per lIDTUM, there would only Nowa about 105 mill ons of teals per annum for the settle :oat sf the pahlle &tot, as set out in the project of the preranest—he &Leaded of the iteleestes, first, whether U.y clowned to a reduetion at the capitals: and, sesseledi smellier they mewed to nettle did iitively sad forever, sod b. common mass; the shressid debt at the sum pointed tot sad fixed. The daltiateo is their reply have a difficulty La asseatinp it asw eapoos'ioas, bi helot/ entirely foreiga to their lo anietkaa, anatrary to what they stated in the first iotsrview ovh the dlnseriee junta, and oppcoed to their ponsestal ereivaa. after dielliou upon toe inutility and loadasiaal Lay of • reduction at capital, they declared that the pre lim/4 Iu woe insufficient for a definitive settleateat. His lacolloaay the Presides', on deelarias that be would Mir to the directive jests, istiesated the pcoathaityof w agq op the point of redwrias Is the capitols, provided, how eler, the creditors would be satisfied for ever, with the sass anveatentioned for the Had seines:44ot tt the following conformer, ea the and August, big Ex te..ency the President, is the name of the directive junta, s.. , :r•ited another mode of settlement, grounded upon the 2....,rrity of the capitals, vie.. 1 , .I,As the di ht which is t., be regulated into two este- Vt...., that is to my, into a consolidated debt sad a nos t.c.•.l;da•ed debt. The first would include the 4 and 6 per t.L; nem debts, b .th domestic sad foreign, which wcald kettled by allowing them is the first eight years 1 pet E t.! i , teresr, and come:minas( from the ninth par to sui t .r.t the interest per test. every year till the 24th par, •r.tc it would form • penology 3 per lest. stock. That ki Luc consolidated debt would indode the 'impose is situ, the deferred debt of 1831, the passive debts, the c•ct wit►out interest, and the remainder of the dicta motioned is the project of the governasest. lint all the esid non-cosao♦idstsd debt would be aun,tted in payment for the maimed properties oa eale in Peteernt of the waste lamb, sad also of this* of the a•m `un.t at the disposal of the government ; and, moreover, 'Ws shquld be saanelly essieraed fur its amertisatios •a Pr to 20 millions drools. n delegates desisted that they bad so objeetlee the debt to be regulated into a consolidated asolldated debt, provided that there should ▪ the consolidated debt for their integral years wigwam due upon the sedge debt, se as •- gems footing ea !he letter, aad ;wielded ,rbt of 1831 and the palsies debts were peoportim, es well as the old snoonverted eat.s denuded another day for pekoe e upon the above 1111014110111 utters dealers gomission that it etmaide►ed there wield be v improvement to be obtained ow thk bode of s the shave 'motioned demand, soother place on the 6th of hazed. The delrpatee solo explained the If MOOS why, to their 4 not reeonseatt to itteir eseeolturrata the eat seareted at t►e farmer cooler. ace, and this the oseeptenee thereof might b►, t►ey their del to sive lafortaatloa t►rrve to requethig the contaxiallea, at the same I test. their reasons sad oalealatiesa let forth sata, la order to lodate the lafAer to adopt ~ sad Gas letter eoloalotoot to Mad to a me Wm., tuft at the dispou teat there should be tt, tuts ut 10 to 20 The ferried daken V. !Le divieion of tho cv,t and a non•ciese, lA, 14 included in 1 ";Wai the tea 'ears •-t tre.t.4 on the tt.s deferred d.l V.M.ti64 in a hit pe 11 " , t The deltas' 0 ..I,%diseopinion 41 the commies ttly a teit on intim ".•se.st. 1a pursuance of snafu I , oy le plat as'te'rs u t.tla a eau n h'tth.y e settlement L• ..err improbable !,• t'ittitlered it titi Lwu chnine.et.es, cAninunicer ts dmective Jna 't:.t. 11'4161 vie. 4 ' 211 lit•eileit,' nip nuarßEss,/ mummy Svisursmittruser , 10,a ASAVAIXXXCTINIU 1 • ) Ala Minine...lihisligiUMßl . - ,a• 141) I 4411 Iola: e.O Mr. lILLUPANIP ankl,if curt wigs the owe whs. th. linen and the committee Wen agried. Amothor ortaat ,614 wee died ties ewpwate anal of die eampurt been Semi illemeed to moan if the reetody et Ws salielary, L ialebt Ili for partners lavoleg the interests el thrt Milleelf." 0, ICJ Then was vi ew mrteat does- nedobrnpadtligir bi ill agnenteat &t h the Bristol end Nan* solves, and the Chen Weenie Cartel eon- villellitlepidleg at reeetos, whisk had die wal of the to it , aid the wintery, as being *eked, said It e reM 'deader se adnufe elk is the Web. A great d ial e 1 ward" mid Wig ilissuelos followed en this subjeet, width was by the ekeirmaa exlain ing that the feet was, the alitided to was mad p e in Leedom with Mr. Taverner, sebsitem of the Cheat Western Caraway; it was deem at a time when the dimmers were eigaged bt parliameoury beinieues. It wee thought wear rut y the egnemest should be emplaced at owe; the cor porate seal of the seaway ins sent for, and attached to the deemed is his Ohs °Minna's) jpresense. (Hear, hear ) Mr. BILLIFANT said, the east point he bad to wp ow the meet' was is regard to the dudes of the madder, Mr. Beemmabe. H. enlarged as this tOpie, hispriecipal somplaint Wing that he bad not it. power of disallowies say items of wLish he disapproved. The next thi( ass Ik. surveyors and winders' Mlle; they was very ve.dreninens, sod the committee would rewatineud that they should be taxed. dines the directors had adopted the tariff proposed by the superiateadent of traMe, their traffic had nereased 46 per wet is ell their mineral trifle, and 26 per ant. on ths oral trams. (Heir, hear ) The OBAIRMAN.—Where did you get those returns. Mr. BILLIFANT said—From Mr. Harrison. He was not respocsible tor the figures. Some very strong language passed on this sa t e; duo se enemy most indignantly denying the feet ; h e would deny it wont the bateau of his soul." After whisk great confusion prevailed for some dam Yr. Britain attempted to address the meeting, which wee for a long time unable tplowed from the puha storm of Wawa with widish he was ved. 11 * t 1 .1 101 .4199 17 4 9 V - 7 9 0 ,1 1 Ratios or poplin fa trorrpro rielottleg, a tie Wilett,ffelmeare, the ibba i r . • • 9 124114 9 1 109 . 99 1110/11, ‘ ll9 The siestas of the peeefett Maim babes bees ran, me Abe advertisement eatemale. the passe*, The m 11.10410 mkt that the mania/ baii bees ass essed for a doable puipme, namely, shamanism heitiessiy hostages of the *warm l y, sad oleo to resolve a report of • committee of tovirogatioa which bad bees appoimil by the ehareholders. He thought the men esavestect eesme would be to read the directors' report lest; after which acme* pristaser might call attention to the reward the sea &Mee. He should. therefore, is the Ant teatime, all apes eserestry Se read the ripen (Beer, hear.) The SiCARTAST IMP. J. B. Babas) prepaid to rad the »pat as follows: " The proms trade reeeipa upes the Brian and Ramer Railway from the Ist or January to the 30th of Jaye, 1860, amour% A 97,9401.13 e. 7J., and the workbox expels owl Isaias the man period to 43,452/ oa. lad or abets 46.40 per cent.,er 6281. 10s. 34. per mile tee the half-year ea 68 miles of Mat The sister of passessers ems erect is 27061, smell*: 7,643,423 miles, sod the &tabor of to., of good LO 66,067 tone, 2 ewe.. 2 vs. 261 a., essayed 2,498,884 mike. The receipts Name be fairly compared with these of the corm spondlag half of 1849, became, duds, the erosior part of that period the hoe was worked by the Gress Western Company under the lease, and the mamas isaisiled the receipts of 17 additional - days for the time banes the 14 h and the 31st of acembs. Tie bags entettaingd that, by this time, ism retire would haw bees re- ' waived es you: South Devon railway shame, he. been disappointed. The bill introdueed Isle palmseist Is tho last auks having bees sliest* the of that comma: ecatisas to be appospdaten im aid al ef eel towards the diabase of liabilities to sestesetere and others ; bat a separate the amass due to the Midas of half Mares, aid SUN seam to be no doebt ef yea ansoitua3y reeeiviag • return apes your subeeriptions to that company. No program has yet been nude in the arbitration between this mopes, and the Postulator-General for fixing the compensation for eon. very, nee of the mails. The delay rests entirely with the P.st-ofilos authoulties. The balances of the revenue account, including 23824. 10i. 81. brought Ire the former hall yam, le 64,3881. 111 a ld.; which, after providing far (armrest ' 211 cabman., Ica notes, do., winless, • dissemble behests ' of 28,3655, 13e. 11d., and enable you to d e cla re • abridged of 28s. par 1001, share , sad 9s. 4d. per third .bar., for the hall- I year. This civAlsed is rather more than meal to 3 per ant. per amuse& the espial called up befogs the steeth of March 1 1 ,st. The bakes, serried over is only 3661. 1114 114 but the esellas of this rearm Is the lees objeetiotable, as the I second half of the year is always more productive than the first, and in the present Mime* there have bees as- traudinery recreate denims the meeting of the Royal Agri- 41 culture Society in July to the extant of hawses 3,0001. 1 and 4,0004. The board of dinettes of the Cornmeal Railway, ' searing partly of the rerprosantativu of sada* Devon I Basal sad Esser, sad Great Western Companies. h e. I determined to gradually wind up and dissolve the Com pany. The armor mat eapeeted to have been entered into ey the Easter and Creditou Railway Company, set having I bees earned into elect, the she miles of the Ilse remain use lees to the public ; but there is resat to believe that sego- 1 satirise may be revived, which may terminate in an arrange anent to work the Bile at she brood gage. The goods ' sada, engine -haw, and other 'milldam, lately erected at Pyle-bill afford lankiest aceommodation for the sank of the 1 line ; and plans are in cane of preparation for extending I the loaomotive npairieg shop at Master and for bathing, sad general edits Is Wised. Your direceore are not aware of any material outlay likely to arise fur the ' sank of the Nue, alas ft should be detee mined, on the ' consolation of the electric telegraph between London and I Bristol, a continue it to Exeter. The chain of tele graphic am vanishes would be miaterrupted from 1 , .11 parts of England, through Bristol to Plymouth. Your , ' late Deputy. chairman, Mr. John Browne, having reamed, , the number of the board was reduced below the minimum prescribed by your ate at pediment, and Mr. Francis Fry, • mations& bag and well acquainted with railway affair., has hers sleeted fa his Mao. Your directors believe that the period h sot far off whet you will be all* to ham , l a preference stock at 4 per eels., to cover your debesturee and other liabilities. Bat no present measure Ii neeemary lon that subject, adios you should at once determine to give notice in November nest of a hill in parliament her authority to aisle each sleek. A epeeist meet ing must in that sees, be massed. la the meantime year directors would reeoimmta your conflating the has already accepted and approving any o th ers th a t m a y here alter be obtained at 4 per amt., towards providing for a , I age mama% of debentures and :can notes which will tall due nest year. The loan notes, as you are aware, cannot be re , sewed. The balance is tea bankers' hands on the 30:b of , Jose was 13,801. 13s. bd., and the total balance of the gene values:aunt, inelneling your South Devon and other sharer., do., was 3808344. 19.. 2d. Against the sum of 13,0291 set down as the bastes of mount with the Great Wirere C..mpaay, is the value of your apportionment of land in Temple Meade, with interest thereon from the time when the purchase money was paid by the Great Western Company. The arrears oa calls at the and of June last amounted to— Kr. BILLIFANT, when order was in s thre measure restored, proceeded to crlt attention to the &abject of the prelim recently Weed by the directors, and paid for In a cheque from the secretary, Mr. Bodiless • but it eventually appeared that the di rectors themselves h ad paid for Aare proxies. Another gross thing he had to complain a wee. that in the half yearly etwounte the amounts stated to be paid for the purrhass of the Taw Vale, the Baster sod Crediten, and the Glastonbury Canal shares were put down at 2E,8871 who in. they really cost 31,6161.; sad then was another the menet perhaps was as aware of—that some of the directors of this company had sold some of their shares to the somp.ny. He also understood that Mr. Fletcher, tit. it former auditor, bad obj• mod to the Investment account when it reathed 70,0001., whirl stood in the seerstary'e name. He called on the directors for an explanation, and de. thud to attach his name to the account till it was explained; and the result was he was rimmed from the anditorabip. He then proseeded to touch on other recommendations of the committee—such as the preservation of the broadgartge with respect to the Easter and Crediton line, and the desirability of radiating the working enplane. He also contended that their halflearly account were not (dearly made out. There was a great deal of spare lead on the line which should be turned into money, or some portion of it pat to a better par pose. He concluded by proposing that the report of the committee be received and approved. Mr. ABBOTT prooreded 'triunes to combat the Kato mints made by the chairmen of the committee of hthesties ties, and characterised the whole proceedings of the corn mittee, amidst much uproar and confusions, as trivial and ridicule**. The real question was, whether the direoton were possessed of their coca :elute, and whether they would strengthen their kande, or whether they wets not entitled to their oonedents is managing their property. He also reprobated the conduct of the committee in rotaries to exa mine the b skit when offered them, alleging that they had closed their report. If they had be am serious and the matter was of such importance is h a d been represe nted, they would still have gone into them. Kr. Abbott concluded by moving as an amendment: That tide meeting, having exastheree the report of the onnatittee of investigation, and the answer thereto by the direct o rs, f ee l it helmet heat an the to thank the committee for the time and tremble devoted to the report, and at the ease time they nour o r y fames (the me.their enti )re emeddmioe in the integrity and ho- Meditates,. . Mr. AVERY said he would ask whether the report was such a document as would compensate for the state of coots lion Intl which they bed been thrown. lie hoped the result of the poll would be an entire confideice in the directors, that their line might be placed in that position in the market whcle it d solved. (Cheers.) After some discussion an I much confusion, Mr. BADHAM, the secretary, proceeded to mad the letters, which consisted of a eorrespondence between him (the secretary) and Mr. Rub. rt Fletcher, accountant of the company, and which passed in 1843. Mr. Fletcher, it ap peared, requested some explanation of the sum for invest ment standing in Mr. Badhaa's own name is the books of the Bristol and Rzetercompany, amounting to 78,6981. 7s3d. Oa the recommendation of the flumes committee, the se cretary instructed Mr. Fl-tcher to continue to mike up the accounts in the usual way, leaving the sum of 76,6961 71. 3d. to the debit of the secretary. Mr. Fletcher smoldered he could not do this and act consistently, if he did cut relic quest% his situation as the accountant of the company. He thought it an improper thing that this sum of money should be allowed to stand a, it did in Mr. Ba ibam's same. Mr. ROWLEY proposed that the two resolution% which had been put b•tore the meeting should be passed separately as two substantive motions. He could censor in thanking the committee kr their labour, and he could also rem eve and ►dopt their report, but be must also concur in the vote of confidence in t►e directors witted' had been proposed hj another gentleman. £14,148 1 0 oft Whole shares. And 30.979 13 4on Thirds. £46,127 16 4 Slane then they have been reduced to lees thee 35,0001. to. clucks' the arrests on the forfeited third shares end en the eighty beloaging to the company ; and several parties ate eadosvorning to make arraignments for liquidating their amen." Mr. 1. - OVIBOND criticise I the way in which leading questions had bt.en put to Mr. Harioott, and the tariff put torward by that gentleman as superior to the previous tariff, which 'misted at the time when Mr. Browns sat at the board. As an instance. in the last month their coal trek had been 636 more toLe then in the gime month in 1849, sod the revenue for carrying that greater quantity h►d been 361 Ws. Mr. BILLIFANT, chairman of the committee of inves tigation, said It devolved upon him to make a formal penes tioo to the insisting of the report of the committee el Mena 'anon. It was a painful duty to him to stand in the posl'ion he did. It was a querns of property, of management and lef eysteut. (Hear, hear .) Now, wi t h ou t sayine anything that was hand or disagreeable, he must be allowed to ote serve the sysem adopted in past years wee not satisfactory to the sharetoldan and he believed their best Literati were involved in amending that system. In the prosecution of their inquiry he must say that the meretuy was not disposed to lay open to them the diens of the company is the way he believed he ought to have done, in conformity with the wishes of the shareeolden, whose officer he was. (Cheat.) Toe secretary had charged their committee with Utensil* to damage their line, bat he must soy that the members of that committee had such a stake in it as would secure their not attempting to injure their own property. The eon =Wee bad had great difficulties thrown in the way of their legally, not thr least of wbizh was the refusal of their mere • ter, to produce document after document, and doubting whether they were not exceeding their duty. Their report, therefore, was not a perfect one. They had simply been able to touch upon the most salient and obvious points. Their report, however, included enough to tumble the meeting to judge of the system by which their property had beea ma naged, and to warrant them in &Ades the board of canton to conduct the affairs of the company in a manner more in 'centimes with the general rules of commercial business. (Hear.) There was oats point to which he wished specially to call the attention of the meeting, and that was, that the emamittee were not reepossitds for the statements which had been laid before them. The charges against Mr. Browne had been disposed of by the directors themselves, who had come to a resolution that it was tot desirable is future to elect to the board any gentleman who was a carrier on the line. They dismissed the charees against Mr. Browne with the simple remark that they thought Mr. Browne bad exercised a wise dis.retioa in retiring frcm the board, sad they fully ! agreed with the directors that no earner should be eligible I io save on the board. The committee, therefore, had gained their point by Mr. Browse's resignation. The report of the committee of investigation alleged that the inane. eflIP 'tastes was a secret committee. Tee directors' answer was plainly that it was not a secret committee. That was as issue which could only be decided by as appeal to the evidence. He would take the 'Mane of Mr. WU- Inas Poole King, one of the board of directors, which was to this effect, that the 1108402: committee was quite a secret committee • that its minutes wen read at the board meet ings, but beyond that it was a sealed book to every one else. The committee wholly dieapproved of this secrecy in l egatees connected with the direction. He believed teat are mischief had been dose by secrecy and mystification is railway stein than by anything else. (Load cheat.) The storekeeper's department demanded more supervision ; it was a point sot touched on in the answer of the di eats and he th ou ght the attention of the skersholdeve should be directed towards it. Mr. &Wan detailed a ease which had oonrred with a storekeeper at Bridgwater, who had ro und goods witboat the company's neognixanu, and had shoe been dismissed from their mace. Another point be would settee was the madam of diseetees at a chums from the line, which involved an outlay last half-year for travelling 'ipso'', of 1331, and this half year of 681., which he thought ought not to have been incurred when 1,2001. ryas was allowed to the directorate. He then adverted to the power given to 'he secretary to draw cheques. The CHAIRMAN explained that the money for whit* ! the secretary drew *bevies was placed to his credit at the beak for a particular porpeee, and it could only be used by him for ti_letiourven. Mr. BI LLIPANP said this we. really the point at hese. He thought the secretary could not deny that he paid cheques to a Mr. Davey and a Mr. Watson without any authority from the board. Mr. }HIPP said Mr. Lovibond was wrong in his figures. (Cheers.) Mr. LOVIBOND said at the last meeting a gallant Major °Alm had observed that figures could not lie, but It seemed now that they did. However, he would rather not be interfered with. He did not quarrel with the share holder, for adopting the abstract proposition that it was un desirable (or any director to be a carrier on the line. Mr. Browne had no de•ire to return to the board, hut ►e did desire to have his character cleared from the imputation that had been cast upon him, and he asked for some trot, of the proprietors in their aggregate number, since use committee had neglected their duty in abstaining from the inquiry for which they were appointed. The hon. proprietor than went into the charges mute against Mr. Browne at the last meet let for the purpose of refuting them in much the same terms as Mr. Browne used es his exptiesatkra on that occasion. The meeting was proceeding, with no chance of titular don, at five o'clock wits n oar parcel left. it;BIICRE TART said that mime be had beta atentested with the railway ha had war draws a single camas foe a sisals sixpence within, tha approbation of the &noon. (Chien.) There was a carless sea of mew plased at hie disposal at the beak s booed of fts Wog put lota a has, and hie book would pros* a easlostsehipaoM eipalost say ealeapproprietioa of the assay. He castle 'flawed is say that it would be quite icapessible to as sash aa affair as a railway without sone eas_haft a for draw isskoques for ansouats of a Lasftsd aalsos. (lisas, Max.) Mr. OILLIFANT read a peat deal a "Memo whisk bad been adducted before the sonatina), and sealataisted that it clearly showed that one class of cheques had bun drawn by the board, and another by the secretary, without their sanetios. The CHAIRMAN was sate that wet of bulimia would be satisfied wick the emplaaatioa whisk had been afforded by the direeters. All the asessais pined to the 'radii et tits secretary at the bank wont saws potty sash asosants. Mr. FRU?, oils of the diosehme s idided that so baaker belseglari is the aural wadi pay wait abwiw• Wan is was sigma by sfirs• at Rs larsaiirs. Tbs esaritisy *ow *hoss abstass la Ns ows NM I all alibi Se same of *a sessymy. SOUTH WALES. The eleventh half-yearly meeting of the proprietors was held yesterday et the Paddinaton terminus, th, Hon. C. A. M. TALBOT, M.P.. ►n the chair. _ The SECIIIITAZY read the report of the directors, a copy of which appeared in the Express of the 27th inst. The engineer's report not having been printed, owing, u the chairman stated, to an unforeseen emerseney, wee read in manuscript. Its contents were substantially embraced in the chairmen', opening speech. The CHAIRMAN, in recommending that the report should be adopted, printed, and circulated among the proprietors, took the oppmunity of stating that the trade on that por tion of the line already opened was double what they had anticipated. (Hear, hear.) The whole of the arrangements for working the line were at the discretion of the Great Western Company, bat it was contemplated to put • goods train on the Ike some time In the month of September, and preparations were now beirg made accordingly. It wasclear, from the decides arrived at by the Great Western Company, that ao moistens r in prosecuting the line was to be imputed from them ; the shareholders mus., therefore, make up their minds to prosecute it without that assistance. AU that re mained war for them to carry oat their obligations towards their great eontemporary, which being done, they would be enabled to call upon the Gnat Western Company to falai their obligations towards themselves. The report was then adopted, and the business being closed, after a Tote of thnake to the chairman the meeting separated. THE SOUTH DEVON. The half-yearly meeting of the proprietors in this osapaay woe held at Plyeoutle, oa Tuesday, at two o'clock. T. WOOLCOII3I, Esq., eltairaaa of direaton. is the After the real of the oompeay had been affixed is the register of the sbarekolders, and the report had been received r read, The CHAIRMAN said he was perry that he could sot lay before them a more flattering amount of their affairs The traffic. certainly, had not increased to the entail which they had coped for, and anticipated; and he attributed the fact. in great measure, to the length of time which was at all times netmeary, in the event of a reduction of fares, to bring up the menus to the amount at which it stood, before such redactions tack place. It was stated is the report, that the raising of their fares, in the fleet isstasso, wee set is the opinion of the director, a very judieieus pro aiding ; aria he believed that all experience proved the truth of that remark ; he mast also repeat his markt• tion, that it would take some farther time before th e %raffia of the lino increased to the extent to which he hoped it ulti mately would imam, is con sequence of the reduction made. He should say that one of the greatest difficulties with which this company had hitherto had to contend, had arises from the inefficiency of their locomotive power • but, woile he said this, it mast be understood that, so far from bawls' any pond for oonsplaint molest the Great Western RillEompasty, they were, Is reality, under the greatest oto that eompasy, by which they had been kindly f with locomotive power. With respect to the capital amottat of the tympany, the directors were doing everything ?agree ing to ng it to a termination. They were their meets as rapidly as they were able, sad were paying their debt 11111 fast al their mem would allow them. They had been obia, eonsequense of the unfavounble rush oft application they had made to parliament, to approp.i ate to the unhinge of some of their mare pressing liabilities mosey which belonged strictly to a parka of their share holders He treated that the money so takes would always be regarded as a debt due to time sharekoldem, for he believed that it was altogether to the plain sad hoses% policy whisk they had hitherto pursued that they were indebted its the peon whisk they Yttd ha hitherto flea "the holders of debenture" of the company. If they t sueseeded In obtalaleg parliamentary pones to capitalist f their debt they shoed do it 'reknit', sad go tit plate the eompway Is a peelion of credit, and siseare illel :o l g f advantage" Wish it geed sot at must enjoy. He should allude vu, slightly—and may for the purpose of declaring that the direction had had nothing to do with them—to certain paragraphs which bad got Into the newspepen—anseseetag, It a semboMcial form, ea intention on the pet of the direeters of deeding with the half shone. He weld only say that the dime on were so o t tia ir : ties, titbit directly or indirectly, to these rumours, er he believed were calculated to do a great deal of , Minim they might lead to the belief that they had bad will* Mesidoeution . GM. plan or other of deportee beta an entered into with one slam of these sharetekbee, cans efispriviag that class of them rights to which they were justly entitled. He wee not Impend to esy that ansagement might not be made of a hamielal character between the two dusts of the share holders, but as fat as the divulgers were concerned, it use only be made upon the principle of giving a fair equivalent for the engagement entered into by the com pany at the time the half shares wire issued. Navies made a few remarks on the adman's. alluded to in the report, resulting from the recent redactions of the snap detlee—and suggested that the thareholdin wool l greatly assist the company by nese on themselves some part of the debenture debt, the hoe. chairman assedd by stating that the direetors were anzions that the amounts should fore ish all the information which the shareholders geed pomade desire. Mr. PRANCE wended the resolution. Mr. C. STEVENS, of London, moved an amenment in the following terms : " That the directors of the South Devon Company, hav ing been saved with a notice duly signed, ritual:lg them forthwith to call an extraordinary general :Bowleg of the shareholders of the sold eompary, for the following objects or purposes; that I. to say, for the purpose of considering and determining whether any, and what measures shall be adop'ed, with a view to the reduction of the working, and other expenses of the undertaking, improving the traffic: and us thereof, establishigg and maintaining the credit of He company, end otherwise improving the conduct and management of to affairs ; and whether it Is expedient that the provisions of the company's sot of taeorporation, in refe rencia to the mode of appointment, the number and order of rotation of directory, the right of voting, the audit of accounts, the power of leering and sale ; and whether any other provisions should be altered or enlarged; rad whether application should be made to parliament for the purpose; and whether it is expedient that all or any of the matters aforesaid, should be referred to a committee of shareholders to inquire into and report thereon, and, if so determined, to appoint sack committee, with lull power to all for and require the production of, and to examine, inspect, and take copies of all books, accounts, and papers of the company, and to employ accountants, and other assistants, end with all other necessary or proper annual, and generally for the purpose of considering the state and condition of the company and its affairs, and adopting such 01•411n1111 In regard thereto as the meeting shall deem fit, That this meeting be now adjourned mail Wedaesday, 9th October next, at 2 o'clock In the afternoon, to meet again at that hour, on that day, at the Royal Hotel, at Plymouth." Hewes prepared to make a statement in support of the views expressed in that resolution ; bet, as the extraordinary meet ing must shortly take place, he thought it better to reserve his remarks to that period. Mr. MOULD seconded the amendment. Mr. W. FOX was of opinion that the adoption of any such course as that proposed by Mr. Stevens would be very damaging to the interests of the company—se indeed would any course the tendency of which waste lemon the confidence tithe shareholders in the directors. After a short conversation the amendment was put. Three heads were held up for it, and four against, and the resolu tion was put and ear. led. The CHAIRMAN announced that be had received a requisition from Mr. C. Stevens for the call of an extraordi nary g I meeting. That requisition would have the attention of the directors. The meeting then terminated. The d , recton, in the report received, as read at the above meeting, state that the traffic of the six months ending June 30 seems to have been affected by the 'deem circumstances of the preceding au tumn for a longer period than might have been antici pant. A made examination of the returns led to the con clusion that the increase of fares and reduction of trains had operated injuriously, and therefore the directors considered it necessary to effect a reduction of tares, even at some risk of a sacrifice during the time which would be nqui site for the full operation of the measure, but the reduc tion his only been in operation from April last. The fol lowing table shows the number and mileage of pas, &smears who have travelled en the line during the whole six months ; Nike Average !meager& Trave. First Class 30,413 .., 617,397 l/ed ...Distance. 21.26 C6,6 Amou nt. 99 4 10 Sneed Clam Third Llaes 67,663 ... 1,323,613 22314 3,686 10 6 236,447 4,352,212 111.22 £23,905 2 2 The amount of the goods traffic has slowly but perceptibly ' increased, and the parcels trade has advanced to an extent that has compensated for the great reductions of charge ' which were made in February last. The reduction of work- Mg charges which has been effected Du counterbalanced the dimioution of traffic. The profit on the half-year, amounting ' to 20,9311. 17s. 104., rather exceeds that of the last half-year. Tao directors are endeavouring to effect an arrangement with a responsible and very eligible party for the supply of locomotive power. The matractor is to incur the wnole outlay net:emery to provide a stock of powerful and efficient ' engines, similar to the best of those recently brought on the tins by the Great Western Railway Company. It is hoped that the arrangement may be brought into fall operation during the ',smog of next year. The directors regret to report that the Poet-oft:et authorities have again thought fit to subject the company to the renewed expense and incon venience consequent on another arbitration to settle the compensation fur the conveyance of mails. Under the pre sent state of the law, every company is bioind for three years by the result of an arbitration,: but the Postmaster-General is able to demand a fresh inquiry u often as he plume. Until the result of the renewed inquiry shall be known, the weekly statements of traffic win, in accordance with the usual practice, return the same amount for mail services as that awarded under the last arbitration. The sggregete amount of profits that bee now been carried to the general revenue &cement is 55,6631. le. 3d. Of this sum 3.5,0001. have been transferred as a loan to capital, and alter debiting the half-year's debenture interest due is January liar, the balance has been reserved to meet that which became payable on the 16th of July. It ie a matter of much regret to the directors that the rejection of the bill submitted to parliament in the last session has made it in cumbent on them to continue the appropriation of the our-plus earnings of the company in aid of the capital, for the discharge of liabilities to contractors and others, incurred in the completion of the line. If this bill had passed, provision would have been made for meeting alt the liabilities of the company, and a fund available for dividend to the holders of half shares would have been liberated. Unuer existing cir cumstances the amount due en the half shares remains as an exclusive liability on re , and is stated in a separate account, and the directors rely en the concurrence of the shareholders in the continuance of such arrangements as are required for maintaining the credit of the company, and con trauting to its ultimata security. On the subject of the de binture debt, the directors are glad to report the judicious forbearance which has continued to be shown by the holders of over-due enmities. The directors are using every effort to effect renewals en the Trost advantageous terms for the company which the circumstances of the ease will admit of. The directors hope that the great reduction of duties on mortgages for small sums and transfers, under the New Stamp Act, may materially aid the company. The duty on mortgages, after the 6th of October, will not exceed one eighth per sent., while any amount of debentures up to 1,4001. may be transferred on payment of a like duty, and larger sums will require only a 355. stamp. The company will, consequently, be enabled to grant debentures for smaller amounts, which will also be readily and more cheaply trans ferable than those which have hitherto been issued, and will form a more convenient and eligible security in every re spect. The directors will not lose sight of the object which has been so repeatedly and distinctly approved by the pro prietors, of creating a psrmaaeat stock having the same priorities as to payment of interest as the debentures which it would replace ; and they will be prepared in due parse again to submit to the proprietors measures for the purpose of capitalising the debt, and will seek their authority for applying to parliament for such powers as circumstances shall render necessary. In conclusion, the directors have to state that they are still proceeding to realise the gusts of the company applicable to the discharge of the capital account debt ; but the distressed state of the iron market has ren dered then averse to forcing sales, and some time must slams before the whole of the assets can be converted. The amount remaining in sneer upon shine hu been consi derably reduced. Some few shares, on which there wee no prosport of recovering anything, have been forfeited, and the directors will submit such forfeiture for confirmation at the present meeting. The revenue amount for the haltyear ending the 30th of June showed an expenditure - for locomotive power, 9.7991. Ifse. Id. ; for maintenance of works, pleat, &et, 4,6921 161.91. ; for direction and 'stabil/liana, 5,4811 14s. ; parcels deli very, 2441. 9.. 44. ; stores, 2291. 10. Id. ; adver tising, printing, end stationery, 4881. 17a. 2d. • station and office charges , 1,1891 . 16s. 84. ; stamps, comm ission, and law charges, 8091 12a. ; rates end taxes, 1.1921 le. 104 ; pours, ment duty, 1,1201 7s. 7d. ; Total, 26,2481. lie. 61d. On the receipt side the amount received for Watt wee-for pas etagere, 29,9051 2s. 2d.; for :mile, horses, carriages, par. cels, Ash, goods, and live Mack, 17,0491. 13s. 74d. ' • fee the electric telegraph, 241. 7e. Bd, ; for mileage of c arriages, 1471. Os. 84. • for registration fees and interest, 1071. ss. sd. ; leaviag a b alance of profit oa the half-year ending 30th of June, 1860, to be carried to the general account, of 20,9841. 17e. 10d. TAW VALE RAILWAY AND DOCK COMPANY. The half-yearly general meeting of this company took alsa yesterday, at the London Tama, Histiorgetip street ;M!. E!HLIIIAND is the ekeir t _ The'follossing report was repaired and adopted: "Innif &restos beg to submit the be half-yesirly statement of the fineness of the Gossipy, by which it will eels that about 2,4001, of its liabMtles have bees diesbarged during the past six months. The call of 30s. per share which your direeters made on the Bth Kay last, and which is now dais and la sane of mount, wee required for Its purlit of sooting demo de, of whisk the payment sun not be long deferred, and of which it was expected that a considerable portion would immediately have to be provided. Should the proprietors, at the &dimmed epic el meths, determine to proceed no further with the saderteking, this sell will still he minima te 'sable the dine*. m whit up the alga and Mealy fetes the liabilities of theeompeny. As their report to the adloarned 'pedal meeting will fully deta il the position of the mammy, your directors deem it desirable net unnecessarily to occupy the time of the shareholders at this meeting, but enable them to ester upon the bulimia of the adjourned special muting as esely ies possible." An adjourned special meeting then took place, at whit& the following additional upset wee protected " Your directors beg to mama the following report on the re solutions passed at tne aphid meeting of the 28th Feb., 1650. on the committee of gbereliolders presenting their on. port, the further consideration of which wee adjourned at pisl meeting of 29th Nay last. Your directors amend the necessary surveys to be nude fn the deviation alluded to in the report of the committee of shareholders, for the purpose of receiving conditioned tenders for the construction of the 26 miles 2 Mains, from the end of Correct No. 2 to Bodine, (being the residue of the main line), , and plans, section, aed drawing', with 'pen& onions, were duly prepared, and advertisements issued, inviting public competition for the execution of sulk work& Your directors also advertised for tenders for working the line when completed, from the doeks at Peehill to Creditor, about 36 miles ; the contractor to pay all outgoing,. of every deteriotion, and to secure to the company a net per tentage on the estimated cost of 440,0001. Year directors have to state that tenders have been received from several contractors within the amount limited by the committee of shareholders is their report, as the principal ground on which they remora mended the shareholders to prosecute the works and finish the line. Your directors have 'lee the satisfaction to state that they have received tenders for working the line, whet completed, from responsible contractors, at a per centavo on the whole capital of 440,0001., and your directors will propose a resolution to authorise them to enter into a provisional treaty for a working contract ; and they strongly recommend such a course as the beet means of restoring the confidence of the public in the line itself, and to avoid the necessity of raising money to a considerable amount for the purchase of plant. They do not doubt that arrangements may be made with responsible parties, so as to pay the in- I terest on any borrowed capital requires, and leave a fair • interest to the proprietors. Your directors congratulate the shareholders that the remit of the steps taken enables them to say with greater confidence than at any former period that the line can be finished and opened u • single broad gunge line, with the necessary stations, for the sum to which the directors propose to reduce the coital—vis., from its original amount of 648,0001. to 441,4001. Tnis can be sceompliehed by reducing the 201. shares to 161 shares, which will realty 426,4001., and which, added to the 16.0001. paid-up shares issued to th, original proprietors (as the con sideration for their outlay in the expenses of two ants of parliament and 45 acres of land, as stated in the original i.rospeetus of the extension company), will make up the amount of 441,4001. of capital. Your directors also report that the subscriptions fur 60,0001. fa paid-up shares by landowners and others in the locality will, there is every reason to believe, be completed b e f ore th e tires arrives for ramming the works, as several respectable, wealthy, and infieential individuals are waiting the result of the company's application to parliament for an extension of time, and for the deviations contemplated. Your directors therefore recommend, and resolutions to the effect will be submitted to you in substance, as follows: "To apply to parliament in the ensuing session for an extension of time, and for the mastery deviations; also to reduce the capital, by making the 26,650 201. shares into 161. shares, and to enable the holders ( but optional with themselves) to divide such 161. shares, when calla to the amount of 111. shall have been paid upon them, into two hell-shares of 81. each, ,is., one half-share 81 ell paid, deno minated ' share A deferred ;•' and one belf-share3l. paid, and subject to 61. calls, denominated there 13 guaranteed 51 per cent.' ; and to charge the share A (with 81. all paid) with the payment of all dividends on b o th denominations, until the holder *lobate B receives 51. per cent. per annum on the amount paid upon the same out of divid• ads; and all excess of dividend (on both), beyond 61. per cent. on share B, to be received in perpetuity by the holder of share A. Also to authorise the company to re-issue the forfeited shares pro rata, amongst the registe re d shareholders; end if not Wien up by them to the extent of four.fifths of the number and amount, to issue such forfeited shares ' on such terms as the holders of threii.fifths of the registered shares at any special meeting called for the purpose, may approve and decide upon,—either with or without a preference dividend or bonus ; and to be, or not to be, offered in the first instance to the registered shareholders, pro rata, in proportion to the number of shares held by each respectively. "Your dirtetors further submit fur the consideration of the shareholders, that when the calls ptyable the Ist instant shall be paid by the existing responsible shareholders—who are assumed to be the holders of 15,000 shares—and the 50.0001. starer:phone in land and money in the locality effected, more than bar the capital will be paid up, and the borrowing powers of the company will come into operation; when, if the works are then progressing favourably, the pealie will be induced to take the company's debentures, and, in that event, calls of 41. more cn the holders of the 15,000 shares would suffice for completing and opening the line, if contracted to be worked by any other party. Such would be the ease without the reissue of the forfeited shares; but if the forfeited shares (supposed to amount eventually to the total number of 7,000) shoo ld be re. leaned, and liable to calls of 91. per shore only, producing 63,0001., a result so obtained would render it unnecessary to make any further call on the , existing 15 000 shares held by responsible peewee, who have paid 91. 10e. per share, including the last call of 11. 10s. The following statement will explain their views more clearly, vie, Alreitli p tid £16 3 ,000 1 135,5001. being Subectiptions in locality in paid-up nuts than half shares Present call of 30n. on 15,000 shar e s 22,61..0 of the capita. 7,000 forfeited shares to pay calls of 9/ 63,000 Harrowing powers, one-third of Capital £445,500 or 4,1001. cton than the total estimate o: the line u tefora stated." This report having been adopted, the following resolutions were submitted by the chairman : " That the report be received, and that the directors be authorised and requested to take all such steps as they may deem expedient for obtaining in the next session of parlia ment an act to extend the time for purchasitg the land and executing the works of the Taw Vale Railway, and to autho rise such deviations as may, in the judgment of the directors, be most convenient sad conducive to economy, and also to authorise the reduction and modification of the capital of the company alluded to in their report, including the re. issue of forfeited shares, either with or without a preferen tial dividend or bonus, on such terms and in su:h manner as shall be determined by the holders of not less than three fiftt sof the registered shares, at a special meeting to be called for the purpose ; also to alter the name of the under taking to that of the North Devon Railway and Dock Comp toy, if desirable. " That the directors be authorised to enter forthwith into conditional contracts for executing the works on the main line, in accordance with the specifications which have been prepared and submitted to competition • and that, so soon as shares to the extent of 50,0004 are subscribed fur in the locality, they be authorised to give the contractor whose tender may be accepted notice to proceed with the works." " That the directors be authorised to enter into a contract noon the best terms they can procure for the working of the main line upon its completion, for a term of years not exceed ing ten nor feu than five, for a net per centsge on the entire capital of the coennany ; the contractor to find all necessary plant, and pay all outgoings connected with such working." Mr. TITS seconded the resolutions, and stated that he thought it highly desirable that they should receive the assent of the shareholders. He was quite sure that as the working of the line began to develop itself the proprietors would have ample reason to congratulate themselves upon the result of the undertaking. It was mach better for th. mto sanction such proceedings on the part of the directors as must eventually secure them a good return (or their capital, than that steps should be taken which would involve the shareholders is the leas of property to the amount of 180.0001. _ . . . Mr. MAXWELL stated that all the land owners on the line were favourable to t►e project, and • large number of them had already consented to receive for their property shares amounting in the aggregate to thirty or forty thou sand pounds. The resolution' having been put to the meeting, wen unanimously adopted, and the meeting separated with a vote of thanks to the chairman. YORK AND NORTH MIDLAND. Yesterday the half-yearly meeting of this company was held at tke Ds Grey Rooms, York. H. 8. Tamarac's ,of Moat-hall, chairman of the board of directors: presided. The report (which we published on the 24:h inst.) having been twasidend tsresd, . . . The CHAIRMAN, after giving some explanations upon one or two items In the accounts, explained that the 40,0001. melted from Mr. Hudson had been carried to account in • former statement. With regard to the suit against Mr. Hudson, it war making progress in Chancery, and the question had bean put why the iinoton should not accept • certain sum down, or refer the case to arbitration. In his opinion, be had no hesitation in saying that, as long as they sonsidered the direction able to map their affairs, they ought to allow this matter to remain in their lands. This was •as which was a demand for restitution, and not a case for arbitration. He had formed a strong opinion of what ought to be reclaim& from Mr. Rodeos, and would not consist to take lam With respect to the alai= against two other of the late direttoes (Mr. Devise and Mr. Richardson), the dimmers had made a. cooditiosal arrangement, receiving from them half the pre+ alums which the shares were worth on the day that th ey were appropriated to them. An item on land parakeets se 3,4431. 18s. Bd. had been paid fur baterees, on the wimple ties of sionveyenees, which sum, in isest snpani.h was pi.ese4 to capita amount, but they thought it beam to carry It at once to revenue. With ream* to the affairs of the con. pony generally, they had mach batter ()compute than existed six maths Mau. He then moved the adoption of the me. port, which was agreed to naanienowely. Mr. RAMSEY thee moved that maned e *pu k k a a s tabu, with • view to legal pressed= against Hr.. Hudiea and the late directors, and sack ost as had beds balsa 'etal in tabityiag the aceenals of the eempaay. A Mr. THOMPSON sursedetthe motion. Another Mr. THOMPSON whited to know who the seconder was—he wished the residues to be pima. The first Mr. THOMPSON—I live at Hanby. The motion was negatived nearly miesimouly. The CHAIRMAN toyed the adoption of a relobatiem, declaring • dividend of de. per seat., without dedeedea per tomes. sax, was weed to. Mr. RAMSEY moved that the amass, duese, sod salaries of the servants satoeatiag to 1001. and upwards, be eireaßeed With the Meet M seek hallisetiy nesting. 4.41 L... ... I.)