The Express.
London, England, 1852-02-25 00:00:00

-....•...1.••••••

THE EXPRESS, WEDNESDAY EVENING, FEBRUARY 25. 1852.

ELECTION NEWS.

tare debt, a claim not bearing en the tn., a t►e Current
year, as the flied trate of wile mods that, so
that what they had from their passenger and goods' traMle
alone funned the dividend. It would be seen that they
carried 2,000,000 of passengers during the last half year
without any suhstantial claim fur damage to life or limb.
(Hear, hear.) The East and West India Docks were now
consfrulting • bridge across the lock, by which they could
discharge their goods into vessels loading outwards without
the necessity of employing craft for that purpoee es they
were now obliged to do. Ile had last year spoken of the
additional revenue which they might hone from the re-
moval of Smithfield market. Ile had that morning re.
aeived• consiuunieation from persons connected with the

REPRESENTATION or LEEDS.—A meeting of the
leading liberal. of Leeds was held last Monday night, in
order to determine upon the gentlemen to be submitted to
the ,lemon fur their sueragea. The gentlemen fixed upon
were James Garth Marshall, Esq., the present liberal re-
presentative; and Francis Carbutt, Esq. Thu latter gen-
tleman entertains moderate reform principles. Ile has for
many years been a leading member of the corporation, of
which he is now an alderman. Ile has also held the attire
of mayor, and is • recently crested justice of the peace, but
' perhaps may he meet generally known as ono of the direr
tors of the Midland Railway. On the conservative side, it
is expected the candidates will be Wm. Beckett, Esq., the
present member, and John Gott, Esq. It is said that
neither of these gentlemen is a protectionist in principle.
They both permits great local influenee—Mr. Beckett, as
the head of the chief local bank, and Mr. Gott, as a mem-
ber of the eminent roanufacturirdt firm of B. Gott and Sons.
Mr. (iott wee one of the royal commisaioners of the Great
Eahibitiou. With such candidates the contest will, no
doubt, be a severe one ; hut in the present state of the re-
gister of electors, it is believed, with union, that the liberal
party will be able to carry both their men, though it swat
be admitted that two more formidable opponents could
not appear against them than Mr. Beckett and Mr.
John Gott. 'l'he ministerial c• • has caused an
immense sensation in Leeds, and it may well be
imagined that in a town which hoe derived ouch great ad-
vantages from free trade, the advent of a protectionist
ministry has also caused much apprehension. Every
rumour has fur two or three days pot been viewed w ilk
intense interest, and tho morning papers and telegraphic
despatches are read with great avidity. There are few,
however, if we except a small party of ultra-conservatives,
who believe in the possibility ut a restoration of protection,
or a lung lease of (Alice to Lord Derby, however ho may
square his policy to suit the the temper of the House of
01,1=0114, or def. r to a more "convenient season" the
hopes ut the piny on whom he is relying (or support. Of
all the aepoit.tm :ats in the programme of the new ministry
that of Mr. Disraeli to the Chancellorship of the Exchequer
is consinered the least suitohlu Rod eati.factory. Most
people here seviit to think him better adapted for any other
post. The oak eof llomo Secretary, assigned hint in the
I....VrtVs of Monday, was looked upon an by far the I
most eligible appointment for the lion. ;entlernau.
COLCIIESTER.—The acceptauce of Lord John Ma-
ilers of an office under the government will occasion an
immediate election at Colchester. We learn that the libe-
rals are prepared to contest the election with every prospect
of succoss.—lpstri Lrpreas.
LtvEttreart..—Mr. Ilurefoll is not a candidate for
Liverpool ; and, moreover, he will not accept an invitation
from say constituent body whatever to serve in the present
or the ensuing parliament. Whatever the friends of Mr.
Holdall may wish, the hope of his candidoteship is defi-
nitively sad conclusively at an end.—Lieerpoo4 Mail.

new Finsbury Park, setting foal-tithe advantages that may
be derived from it us a source of revenue. When it was
finished they would take it for what it was worth. Its
would now conclude by moving the adoption of the report.
(Hear, hear.)
The report having been adopted.
A resolution declaring a dividend of 000 per cent. for the
half-year, fr:•e of income tax, was agreed to.
On A resolution authorising the directors to raise a sum of
16,1;.,iit. by loan, under the art of 1850,
A I'ItOPHIETOIt wished to know why they 'eked for
this sum of money, when it appeared from the account that
they had a sum available on the 31st of December of
G',7001?
Mr. MANGLES said that that sum of 69,7001. was made
up in part of the 16,faiGi. which they now naked for. Of
course it would not be available if they did not get it.
'flue resolution waa thin agreed to.
Mr. Creed and Mr. Thomas were re-elected directors ;
and Mr. Sweetland was re-elected auditor.

A Tote of thanks to the chairman terminated the pro-
ceedings.

LANCASHIRE AND YORKSHIRE RAILWAY.
The report of the directors, to be submitted to the
half yearly, general meeting, to bo held on the 3rd of
March, 1842, contains the following statements:
"CAPITAL AccouN T.—The total amount of share and
mortgage capital chargeable on f:VCDUO for the half-year
coding 31st December lut is a. follows, excluding leased
lines :—Ordinary capital, 6,154,1001. ; guaranteed capital,
6 per cent., 791,0101. ; guaranteed capital, 4i per cent.,
Z 53,7911.; Manchester and Southport capital, 13,39,1 f. ;
loam and delayed pgyrnenta, 3,207,819/. ; add—Fitths capi-
tal, subject to special order fur reserved dividend,
1,488,4;(01. ; total, 11,917.29G1. Tho expenditure tin capital
account (luring the beta year has amounted to I
63,8271. 18e. 7d., of which the following constitute
the main items, and apply more particularly to
the further reduction of liabilities on account of lands',
purchased and works executed: Manchester and
Leeds Main Line and Branches, 8,7671. 4s. Id. Additional
working stock—vis ' NI new goods waggons, 9,82.51. ; lets
(tools, &c. 2,1591. 25.-7,6611. ; Liverpool
and Bury Liue (Tithebarn - street Extension, &c.),
6,7661. 14s. 101. ; West Riding Union Lines, 29,6001. 9s. Bd. ;
Burnley Branch, 3,7751. 17s. ; Huddersfield and Sheffield
Line and Huddersfield Station, 3,2134. 18s. 10d. It will
be observed that an expenditure of 9,82,31. has been incurred
in providing additional waggon stock to meet the increasing
demands of the merchandise traffic. Your directors
entertain no doubt that had thaw and the further
additions which they have been called upon to
sanction been made at a time when the atten-
tion aid enerpies of those in office were absorbed
by matters foreign from the development of traffic, the ad-
vantages which have already shown themseliei would have
been materially enhanced. Under the present circum-
stances, therefore, they firmly rely upon your support and
approval of such measures as they have felt it to be their
duty to adopt, possessing as they do, in their opinion, the
double recommendation of improving your income and
ministering to the stability and efficiency of your common
property. The tonsil portion of the West Riding Union
lines which extends tram a point near Sowerby Bridge to a
poiut (liar Halifax, was opened for public traffic on the Ist
January last, and by means of its directness and superior
gradients has so far improved the line of communication
existing between the towns of Bradford and Halifax, and
places westward. As stated in previous reports, this line
formed the last of Moat in course of construction. A gra-
dual reduction has taken place in the arrears of calls, which
amounted on the 31st December last to 129,8761. 13s, in.
eluding the arrest, of the last call on fifth shares due in
September, 1851, say, 10.5,2031.
,
•• lteveNca ACCOUNT.—The Met ipts of the company uur-
ing the put half-year, including the receipts of the Suer-
field, Barnsley, and Wakefield line, and the company's pro-
portion of the North Union line, have been 412,0871.85. 9d. ;
deduct amount received for working the traffic of the
Blackburn and Liverpool, Crosby and Southport lines,
11,4401. Is. 3d.; 430,6471. 7s. 61.; add two-thirds et
receipts of Preston and Wyre lines, 11,51171. 17s. 2d. • total,
4.10,1541. 4s. Bd. The comparative details of traffic and
mileage are embraced in the annexed report of the
general manager, to whose remirks your directors think it
only necessary to add, that in weighing the various circum-
stances which may have been supposed to influence more
particularly the passenger traffic, it should not be forgotten
that the leading event of the year 1831, so far from operat-
ing advantageously as in the case of other companies, con-
duced to an abstraction of a largo share of that portion of the
traffic which is the subject of regular interchange between
the manufacturing districts and the out and west coasts, in
the autumn of each year. The receipts (sad disbursements
on revenue account, excluding the Preston and Wyre,
Blackburn, and Liverpool, Crosby, and Southport lines,the
proceeds of which do nut wholly belong to your company,
admit of the following comparison with those of the corre-
sponding period of last year.

locomen.
IEI6I. 1860.
Passengers, parcels, and mails £190,310 £173,293
Goods and hvo stock
Rents 2,910 167
--
£427,040 £379,980
Manchester, Bolton, and Bury
Canal 3,607 3,681

Total £430,647 £383,641

1&51. 1860.
Working expenses £149,406 £141,540
Rates, talcs, and duty
£167,123 £157,778
Manchester, Bolton, and Bury
Canal

Total £167,944 £168,442
The items of working expenditure, embraced under the
heads of " Locomotive power" and " Merchandise charges,"
alone show any increase worthy of remark ; and' in these
cases a ready solution is offered by referring, on the one
hand, to the increase of mile, run and repairs executed, as
alluded to in the general manager's report, and on the other
hand, to the additional tonnage carried, consisting mainly
of merchandise both loaded and unloaded, and to the inces-
sant demand upon the capabilities of your waggon stock.
Your directors have confidence in stating that whether in
respect of the working stock in engines, carriages and
waggons, or of the permanent way, works, and buildings,
every outlay consistent with justice to the whole, and
• due regard to economy, ham been employed with effect
during the half-year. The balance of revenue for the
put half-year, applicable to dividend and interest, amounts
to 273,401!. 31. 4d. Your directors recommend that • divi-
dend at the rate of three per cent. per annum, less income
tax be declared, leaving a surplus of 19,9401. lits. Bd., to be
carried forward to the next account, after deducting the ne-
cessary reserve for the Fifth proprietors, and allowing inte-
rest on the &emulated amount of that reserve, at the rate
of four per MIL per annum. The subject of the proposed
sroslearnatira with the Neat Lancashire Railway Company
is still under semideratien.
The report dee patheithed M Meet the ashore et the
width bes waives_piese between the lemeoldro and
Yorkshire, the One. *wane as* last Lanerehire Com-
mies. no thpeliatiens with the Tork and Muth
W Mid-
ler' Company were the thlly ehexplained ,
and eteeensats of
th=lireasnawy iner et t ampa thr the present
awl et the math tithe Mel reseesy diir.rs in which
they have been recently aneepei were the set forth. The
following are thee:occluding passages
"A line of railway has Mee erected by en independent
company, entitled TM
_Leeds. idhed, and Halifax Jaso-
n:in Railwey Compsey,' 111 by a junction with
your line at Bowllag, sear Breslthrd, sad to terminate by a
junction with the line of the several companies interested in
the joint approach to and the Central Station at Leeds.
This line will occupy the same district of country ones pro-
posed to be served by that portion of your West Riding
lines for the construction of which a mandamus has already
been trued, and powers are now sought by your company
to abandon. It will be at once admitted, that to the
extent of the formation of such a line by in-
dependent parties, at their own expense, and a
satisfactory arrangement of the terms upon which it shall
be worked by your company, as a part of its system, no
objection could be raised on behalf of your company, and
your directors have so informed the promoters of the line.
On the other hand, should these parties seek to secure for
themselves a position independent of your company and
privileges detrimental to your interests, it will be necessary
for your directors to oppose the scheme. It may n 4 be
considered inopportune, on the advent of a new session of
parliament, to draw attention to the heavy burdens imposed
upon all railway companies in connexion with parochial
taxation, and the utter absence of any fixed principles
according to which their property can be saasesed. The
magnitude of this evil cannot well be overstated ; and
when it is considered that your revenue secouat for the
last few years has been charged with an amount
of nearly 20,0001. per annum for this species of taxation,
in addition to the heavy expenses necessarily incurred in
eelfglefence and the print inconvenience caused by the ab-
straction of the time and attention of your officers in resist-
ing unjust imposts, your directors cannot refrain from an
appeal to each proprietor in his individual capa6ty, to aid
in the accomplishment olmeasures for general relief. The
following directors retire from office at this period, and
being eligible, aro recommended by their colleagues for re-
election, viz.:—Messrs. Henry Wickham Wickham, William
Marshall, John Hargreaves, James Helene, and Richard
Atkinsoa. Mr. William Dunlop, one of the auditors, re-
tires also at this period, and does not offer himself for re-
election. It will be your duty, therefore, to supply the
vacancy thus created."

DIRECT LONDON AND PORTSMOUTH RAILWAY.—
The half-yearly meeting of this company was held yesterday
at the London Tavern, iiishopagate-street. W. A. V. ilkinson,
Esq., took the chair. The following report was laid on the
table Your directors hay" but little to state on the
present occasion. The preparation for finally abandoning
the undertaking is going on, but the rooec&ngs at law
which have bola laetitatad hiadowasza 'pima the OXS-

pany, pending in August lest, and then mentioned to the
proprietors, have not advanced to a hearing, though your
directors are advised that one of these suits will
very speedily be heard. The directors proceeded
to advertise for tenders for the forfeited shares,
and the only tender they received was for 2,000
shares at 2s. 6d. per share, which they, did not think
it expedient to accept. The dime .ors have, during the half-
year, enforced arrears from some of the largest shareholders
in default, and aro proceeding to do the same by such
others as are in a condition to pay such arrears.
The directors cannot recommend t'io immediate adop-
tion of any measures for winding-up the under-
taking under existing circumstances. The accounts
showed the balance in bond to be 24,376'. 2s. 2d.
The Chairman was afraid they could nut constitute a meet-
ing, as they must have 30 shareholders prew nt, represent-
ing 100,0001. in the company. lie was not in a position to
sly anything satisfactory to the shareholders; and, if it
had been so, the directors would have taken means of con-
stituting the meeting by proxies. It would be some time
before the existing claims could he settled, so that the re-
maining balance could be divided amongst the shareholders.
The directors were anxious to avoid the neceseity of wind•
lug up under the act, u it might absorb all the little
balance which minim& A judgment had bees got
unbolt the sompany in one ir.stance, amid en far the direc-
tors must await the result of the appeal. In conclusion, lie
would Nay, that the u-mril circular had Inen sent out tor
summoning this meeting."—A proprietor asked if proceed-
ings had been taken against the delimiter. ? The
Chairman said that proceedings hail Nods insti
tuted in some cases, and in th,,,e the money
had been obtained.—A Proprietor asked what was the use
of advertising the s:eires ?-11te Chairman said that they
had promi-ed the propriet rs that the shrres should be
publicly sold; but the price offered was not what they
thought proper to accept.—Mr. White, front Leeds, asked
it there was ho other mode for winding up the company, by
which the money could,at will, be divided ?—The Chairman
could not see any other than that which they were adopt-
ing; if there were he should be happy to listen to it —A
Proprietor inquired to what extent the last call had been
paid ?—'l he Chairman replied, that 100 had been paid upon
out of 3,300; and that they were proceeding against some
of the largest shareholders. If they were likely to has,,
more than 30s. to divide they needed not to proceed against
those parties.—The converaction then dropped, and the
meetu.g adjourned without coming to nay r,-anutioa.

Sr. ANDREW'S AND Ql'idaEC RAlLWAT.—Yesterdliy
the ordinary lialf.yearly inei ting of shareholders woe held
at the King's Arms hotel, Bridge street, Westminster. In tho
aheence of the chairman of the board of directors (Earl Fite-
william), the chair we. taken by the deputy chairman, Wm.
Storey Featherstone, Esq. Mr. Byrne, the secretary,read the
report, which warn unanimuudy adopted. We extract the
following passages " The iiirecturs, in presenting the
shareholders with their wand half.yearly report, hare
much satisfaction in stating that the high opinion they ori-
ginally entertained as to the capabilities of the line, has in
no way diminished. That from every source of
tine, whether from returns of traffic, or the opinions of
persons of much experience end high standing in the pro.
vines, or whether from the reports of their own confidential
agents and engineers, the same undeviating testimony is
borne as to the ultimate value and high character of the
undertaking; and to this oriuion they feel that all who near I
in mind the aim and object of the undertaking will yield
a ready assent, for it may briefly be described as com-
prising the formation of the shortest and simplest, ant
consequently cheapest, line of railway that can be built to
connect the Canada with the Atlantic un British territory,
and which, by traversing the southern and wanner districts
of New Brunswick, shall not be subjected to those obstruc.
tions from the inclemency of the seasons which are insepa-
table from a more northern route. The directors are happy
to announce that the contract for the tint ten miles, which
had been let to the Messrs. Myer., an American firm, bas
been completed, under the able superintendence of Mr.
Light, the engineer to the company, an English gentleman,
who had obtained smell experience in the construction of
railways in the United States. The wood superstructure
has been laid down over en extent of live miles, and the
remaining portion of the ten miles being in a state to
receive both it and the rails, there will be little difficulty,
on the breaking up of the frosts, in completing that portion
of the line, and running trains, as there is an engine
ready at St. Andrew's fur the purpose. These will be the
ant ever run in New Brunswick, awl will be the dawn of
an important era in the progress of that province.
They will continue to servo the traffic of the
country, but in ouch a manner ea to be sub-
servient to the carrying on of the works." The
Chairman observed that three of the directors in terms
of the act of incorporation would retire. It was moved by
John Neville Warren, Esq., and seconded by Robert Koss,
Esq., that Benjamin Sharpe, Esq., William Storey Feather-
stone, Esq., and John Montague, Esq., be re-elected, which
was carried unanimously. A I'mprietor inquired if there
was any progress making with any other lino io New
Brunswick. Mr. Sharpe stated, in reply, that there was
no other line but the St. Andrews and Quebec in course of
construction, but that there had been two schemes pro-
posed, one to go by the north, and the other through the
centre of New Brunswick, but they had both been aban-
doned us impracticable. In fact, there was no practicable
route to open up the Canadas to the Atlantic but the line
adopted by this company, a fact which was now acknow-
ledged by all parties acquainted with the local details. The
thanks of the meeting were given to the chairman and
directors for their valuable services in promoting the in.
temta of the company.

YORK, NEWCASTLE, AND BERWICK ItAILWAY.-
-The half yearly meeting of this company_ was held at the
De Grey Rooms, York, yesterday last; Mr. Pulleine, the
chairman of the company, presided. The attendance of
shareholders was rather numerous.—The Chairman (Mr.
Pulleine) who had been elected in the place of Mr. Leeman
resigned, then proceeded to state that Mr. Leeman had re-
signed the office of chairman on account of the bail auto of
his health, and that he had been elected in his stead. Ile
then went on to comment upon the report, which, having
been previously circulated among the shareholders, sins
taken as read. The traffic, be observed, would, he thought,
on the whole, be satisfactory to the shareholders, as it was
to the directors, there being an increase on the correspond-
ing half-year. With respect to passengers, there was a de-
crease in those who travelled by first class, and an increase
of these who travelled in second and third clue. The coal
traffic was not so utisfactory, in respect ef money received,
as in the corresponding half-year, there being a decrease of
5,3951. With respect to the working expenditure,
there was an increase in various items; but, looking at
these on the whole, he thought there was no reason for any
feeling of diwitisfaction on the part of the shareholders, as
the matter had been explained in the engineer's report, and
the charges had arisen from matters which had occurred
during the half-year. After entering at some length into
these items, the chairman referred to another question
which he said was probably the meet important question
that would come before the shareholders that day. That
question was as to how the permanent way should in future
be maintained, and the directors recommended that 24,1371.
should be set apart for the present year, and that in sub-
sequent years the amount set aside for that purpose should
be 19,0001. Having alluded to two or three other matters
of minor importance, the chairman moved the adoption of the
report, except as to the paragraph recommending the erection
of a railway hotel at York.—Mr.Plews seconded the motion.
—Mr. Common then rose to move an amendment. He and
many other shareholders felt that • larger dividend ought
to be paid, at least h per cent. The permanent-way fund,
as arranged in August, 1849, must be modified. lie showed
how that plea oraguselly was adopted, on the elaborate
statements of Mr. Harrison. He did not impugn the
principle of a permanent-way fund; but many engineers
had done so, and some companies who had adopted the
principle had since relinquished it. He felt that the plan
of a permanent-way fund was uncertain and unsatisfactory.
He entered into extensive details to show that the company
had no occasion to reserve so large an amount as 24,0001. per
annum, especially as they had had an offer to con-
tract
for maintaining the way for twenty one years
at • sum greatly beyond the reserve now being mado.—
Mr. Mitchell seconded the amendment. Ile relied upon
the great increase of traffic going on from year to year, as
a justification for the adoption of the smendment ; which,
after a lengthy discussion, was negatived on a division.—
Mr. Johnson then moved that, for future years, the reserve
fund be 16,0001., which was seconded by Mr. Schwann,
and, on a division, was carried by a large majority.—The
report, as amended, was then adopted. A dividend at the
rate of 3 per cent., leas income tax, was then ordered to be
paid on the 9th of March next. Mr. Wharton was then re-
elected • director, and Mr. Hunter, of Newcastle, was
appointed a director in the place of the late Mr. Kipling.—
Mr. Thompson, chairman of the York and North Midland
Company, moved a vote of thanks to Mr. Leeman on his
retirement from the office of chairman of this company.—
The Hon. J. C. Dundee seconded the motion, which was
carried by acelamation.—Mr. Leeman acknowledged the
compliment —The Chairman then proposed the erection of
an hotel at York, which was opposed, and a warm discus-
sion ensued. On a division, the numbers appeared to be
pretty equal, but the chairman declared the motion to be
carried, whereupon a poll was demanded, and the result
was as follows:—For the hotel, 62; against it, 30; majority
in favour of the inn, 22. It was then demanded that the
votes should be taken on the numbers of shares held by the
shareholders who had voted. Mr. Wylie was re-elected an
auditor, after which thanks were voted to the chairman,
and the meeting separated.

THE SOUTII DEVON RAILWAT.—The following is
an abstract of the report of the directors of this com-
pany:—" The passenger receipts during the Exhibition
are not much less than those which were realised in the
previous year under more favourable circumstances;
while the succeeding winter traffic has shown, and con-
tinues to show, a gradual improvement upon that of last
year. There has been an improvement in the goads
traffic, and the aggregate receipts for the half.year are
somewhat larger than those to the 31st December, 1860,
while the expenses of working the line have been slightly
reduced. The disposable balance on the 31st December
amounts to 10,6321. 17s. 11d., a sum sufficient to pay the
tined dividend on half-shares which will be due on the 16th
March, and the same dividend on the whole shares as that
declared to the 30th June, leaving 8361. 18s. Id. to be
carried over to the current half-year. The directors there-
fore recommend that a dividend of 6e. be declared and be
paid on the whole charm."
GLASGOW AND SOUTH WESTERN RAILWAY.—
Traffic (or the week ending Feb. 21, 1862: 3,8191. 14s. Ild.
Corresponding week in last year, 3,6221. 12e. 9d.

LANCASTER ANN CAKLIBLE.—The electric telegraph
L to be laid down between Lancaster and Carlisle.