The Express.
London, England, 1855-02-24 00:00:00

AND NORTH WESTERN ..cons po_Utty, and he thought the right policy, of the North
of the trained transport corps, expected, .m Eng- LONDON
RAILWAY. Western Company to act on cordial co-uperation with theUcy,
laud, will be of material advantage, Midland Company. Their traffic Was to intermixed that
The late promotions have co_used a considerablebeen sae company. A measure for ams a-
number of regimental nffiee".4 to become supernume- Yesterday the hatf earlygeneral meeting of the
-y . mat did not at the time was
den in this comps., was held in the large hall of Rion ht to have
it
introduced *
meet with the approval of parliament; it had
caries of their rank. Tb.ey have been directed to thareboi .
proceed to England bs; sure Station—the Marquis of Cita/MOB, bdrenatoretherefore under the consideration of the
fore
way way the interests of these two great awn-
lieutenant-colonels, 12 majors, 39 captains, IPA 1 the chat
the earliest opportunity. Fem. tho Earmtonan-s
palsies might be best promoted. They had, as the proprie-
--•--of the board of directors, presiding.
tors were informed in the report, extended the agreement
Letters from Balaklava acute that in the night of a •
,will,
tb • cause,
minutes of recent meetinp,
will, fro:A this learn the service. onol. Mr. STIWART, one of the secretaries, having read the
. with the Midland Company so as to include not only the
The CSILIIIMAN TOSS to address the proprietors. Its said • goods but the passenger traffic, and they hoped they had
the ith the Russians Tito had returned to the num- etr regiments.
The following notice htas- been isenal:l4 t that is placing before them the accounts of the last half made such an arrangement with them as would establish
be[ of about 20,000, and taken up permlnent quarters Ilead-suarten 'oefors Sebastopol, Feb. 6,1855. year there were one or two points to which he would drew and maintain a complete identity of interests between the
gt.h‘ehichcl amount of 0 hostility to any company have ercei
eved that
their attention. The proprietots would P two companies. lie (the chairman) had not at that meeting
to the east of the plain of 11..,.' . 'ts s3ervpatant.,,leoftn
on the to ask the proprietors to concur with the directors in active
breastwork a little in ad ;ante and tO the north • ._tu_ ..._ „_, instant - Ta"
thiew
ups
Of .
thre assts
tpeoEf .tCheull'i-dhir9dtiaDitiveimglinone,nt a anhaloffif-cpeur tpeetroeef
DulecetOmfbtehr.egahalvet.anyeuin'ees weassorkmin
but that it did not give •a conesponding increase in y They trusted they should be able
to continue on terms of friendship with the various compa-
Kamera. U"..:: ;;;. xamitation, one end of tki imonlroZa"y": '
the 6th, be wu ~ . __ Camp carried,
ut half-way, and • little off the road, between Ma the balance in band. uring ese y
D • th l t had ear twocarried • with
• found robbed and murdered,
pies whose traffic they forward, or whom they
ei-reement -
:eater e
and Balaklava. or three causes had combined to affect the working expenses had formed an alliance. Tbsy trusted that such an 11
bonist• .s•ork was frAnd to be already defended. with abo
din his greatcoat, marked " 9th i he... - •
%es' e right of On leaving he was deal
10A3 44 F, and aa e •jacket and the merchandise. expanses, the ya wya... .. OM Stud W •
of the company mder two heas of which:ttewlocoo. ciotive
fie had flee:lt:7 ....... math with the Gee..
two loss end }eery guns, bearing upon
Their object apps be to form an ftelitt. Nov. -•••••• * ....duet badge. He had a regi-
II 11 of the 23rd
MM.• I the h rif
the principal in . n mare an aestern Company, which put an end to the ruinously low
our position. Regiment, with ono goat
1 "-- ' ' Lir .•: --'e expenses they rates which, previous to the amalgamation of the Shrews-
our rear, and to defend it by sword, broken ia the centreepee..., a had had an increase which had bahunt in fact, en the pre-
entrenched camp in our bury line with the Great Western, affected the whole rail-
.ll ry• They might thus la • ne forth at metal
volver pistol, a chako-case with shako and sundry' Woos half-year. They had also during that ball-year to way interest. He hoped they might now look forward to a
formidable arti e . other articles, and a small leather medicine cheat contain- contend with *continually increasing traffic week after time of peace with their neighbours, and be able to devote
our men by constant uterine, or con- Rag fear square bottles, the property of Limit. Harvey, 9th week, but at the end of the half-year, arrangements were
Isny time, harass their time and attention to the promotion of their own in-
• n into • vigorous attack Regiment. made for the reception and delivery of that traffic at the terests. Be told the proprietors from that chair a year ago
vett a successful
on
Chet - Any one who remembers to have seen this man after the termini, for wbich theproprietors had ahead sanctioned
of our generals give time
above
, that the interests of railway property were best promoted
should an error on the part time above mentioned, who may have since seen any of the estimates. With regard to the other head of e expenses, by attention to the details of management rather than by a
them the opportunity. It is said that a movement things described, or can afford any information on the sub- aamely, the locomotive, there was also a considerable in- withdrawal of the attention of directors and officers by die-
i feet will re rt to the Provost-Marshal at Balaklava, or to arisen from the same cause in part'—vis.
be made to drive them from this Je i Po crease, which had Ye i puns with other companies. He believed that such a state
would probably the Adjutant General at head-quartera• the increased rate of wages which the company bad had to of things was now at an end, and it should not beihis fault it
position. pay to the greater part of the persons employed, the increase that condition of affairs which had prevailed so many
The IYankfurt Post Gazette is informed that the COURT-MARTIAL 1N THE CRIMEA. in the price of many articles consumed, and also years was ever renewed. (Loud cheers.) He trusted that
Czar is resolved to evacuate, by degrees, . the left bank differences which arose at that time between
from other companies would take the same view of the case—
the com and noes in their employ. With regard to the
Petty pg that they would put an end to the development of new
of the Vistula, and burn every place which might be permanent way department which had now been in ex- lines where they were not required, and that they would
useful to an advancing army. The Rtleillialle, who titmice two or three years, he might say that the directoes display a desire to settle disputes that might arise on the
retire, march some on Kalisch and Warsaw, andmaintaining it by their own officers
baying determined en g 2 04 nenhip and course of new lines without recourse to the
others on Prop and Lublin. These last named for-the system they had adopted hen
instead of by contractors,misous expenses of parliamentary contests. He believed
tresses, as well ea that of Jomok, are. so full of troops entirely satisfactory. (Cheep.) At the correspond-
Preyed ci • that, in nine eases out of ten, such difficulties might be
ing period to the present of art year he did not like to settled without incurring any such expenses. In conch'.
that it may be supposed that the right bank of the express any opinion as to the result of that arrangement, sion, he would assure the proprietors that the anxious att..-
Vistula would be energetically defended if an Asia- because it had not been in operation a sufficient time, but lion of the board should be directed to such changes as were!
Irian army should seek to enter Poland from Lembo
. he thought the directors were now justified in saying that necessary to meet the diminished traffic ; and he must re-
it would prove an economical arrangement, aad that the peat that, if there were any items is the accounts which he
permanent way under it had been very much improved• had not alluded to, or any portion of the report which was
There was also in the revenue account a reduction in the not clear, be should be happy to give the fullest explanation
sum charged for parliamentary expenses, the result of the to any proprietor who might desire it. (The noble chair-
arrangements which were made two years ago with the Man was warmly applauded on resuming his seat.)
Great Western Railway for the suspension of those new Mr. BOOTH, one of the secretariee, then read the follow-
lines involving contests in parliament, an arrangement __14",..
__
which would carry the company through the present session "kg `" I
without a contest with the Great Western Railway for any malt of the half-year's working shows a tonaidezable 'name
new line. The result of last year's operations was to leave In the_ mint Of receipts, hut the MOM trammed In the report
• as haring catenated to imams the working
the parliamentary expenditure at a very much smaller rate, °el tee pro= the great preparkemee of sasmamilise male,
and the directors would, therefore, on this occasion come to with toe immee at am high prim of =tot" hare vow.
the proprietors for a very. much smaller vets, and with an nued ia the pea els months, oak have hitberto
assurance of still diminishing the sums due from those paw a illedoseho of tie essremes disbersemsam The saddle
accounts. (Hear, hear.) The proprietors would naturally too!iso of Wise seise Ms OIMINOSONIeIit et the preesara=s
have had their attention drawn—those, at least, who had ira±Merf bre" et tabs has renamed weemery a
neserally sod the heard ate MVP' IB
attended to the accounts during a series of years—to the "Zl;:rire=eellend„„,e,t. pot s Aso ,5_.____.,........._, .....
increase which had taken place in the amount of capital gto.Wdresiniams.—& aktdsramsb„"'="ptediZe=s•Z•
invested in the line during the last four or five years, and to postman.. as bur asposeible, the outlay of the unexploded balsam
the result of the half year's receipts, but they must bear in upon tothmem voted tom eet the requirements of the tbaxrelly
mind that during that period there was a strong competition lanolin tealle. en the father esdmates now ittea
against the company, that there was a great diversion of bass 101010,1
_ _within_ theupolr its... absolutely required.
Indic from the line, and also that during the latter part of in to „pit msee artotnetaxiusegdund Railway, filw
which 1:::
*at time the receipts were injuriously affected by been se *wpm* approved by as proprietors of both companies.
fatuously low rates on the traffic in some of the most your threaten bus concluded an extended agreement with that coas-
important districts. The proprietors must bear in mind pane, taking What from the lit 5114 Isere land upon the relative
also, that during that time there was &considerable change Lertac of seek uoiseteklog he the mar mhos Weds% 1834, eal
in the class of traffic from which their receipts were mostly nheeeinif lb. Nellido ban Yinewills as Wall es from Elliehandhal.
the object beim to nom a asset emplete sureperetiso soil Idsottly
made up; that the goods traffic, the most bulky and the of interest between the osoomiss, and tie weddegef theaffia
least remunerative class, had increased to a very great ex- traffic in a numese the most systematic, emoomio owl mieselly lie-
toot. One of those causes to which he had adverted as hay- neticial. In porterage of the resweinendattos ereadnell In their last
lag diminished the half-yearly traffic—namely, the ruin- report your dimmers
Mfg minearred with the Midland and other
trusty low rates at which the company had been carrying a rreleceome bite .
rested on by the Wonsiter and Here-
large portion of their traffic—sou now at an end. f yf a bill, having it its object the speedy completion of
-Hear. that oneTerPrakio°g. A bill has been re-intr.xiceed in the present
Mar.) He believed it was for the benefit of the public that session for effecting the amalgamatio 'leerede North Star-
a* rates to be received by the companies tor the convey- fordahire with this company, on the terms adopUd
also of the passenger and merchandise traffic should leave Iv: FCltlioll, under the advice of kir. Hope Scott and Mr. Robert
is the companies a fair remuneration, or the public would Stephenson. In consequence of the great Simony( meow and inter-
/ad that tee work was not performed in a proper manner ruction of traffic experienced freni.the want of sufficient accommo-
duties at the Preston matron, a bill has been introduced by this
de even with safety. (Hear, bear.) In the report which company and they arwebire and Yorkshire ' • Company, as joint lessees
would be submitted the proprietors would find that the di- of the North Union Railway, for power to enlarge and improve that
rectors had again this halt-year had to submit some esti- station and its approaches. An act having parsed in the last Damon
Imitates for an outlay of capital, at the same time he for the construction of • railway from thts company's station at
was bound to state that it would have been more etockport to Maley and Whaley-bridge, as reported in August last,
satisfactory to the directors not to have asked for any such iihdeied'arepeectaun"itareinti'rtseette, tir :11=1'7 Tritt.'n'tilTunalwrllekdirt°
estimate. On reverting to this he must mention that upon and to work the line when complete, on satinActory terms. Tat'
I many of those works for which the proprietors had already arrangements have bees entered into upon grounds of the sufficiency
voted mosey at previous meetings, the directors had sus- of which the boud have no doubt of beteg able to satisfy the
pended to the utmost extent the expenditure of money upon proprietors, when the bill, now before parliament, is submitted fur
them. In many cases the works had been suspended alto- j.ipraorrvalnetellicneenstrial geeetti:dralwniatrietitnhif tee()
communication
calr
tier thet purpose.
them.
gether, and the sumo granted consequently remained unea- The
metropolis and Ireland being very det'ectiver aunt ctahet°qUestioneebeing
pended. But there were tome causes mentioned in the re- regarded by the government an one of great Importance, your uirec-
port on which the directors must ask the proprietors for ad- tors were induced to enter into negotiations with the various parties
ditional expenses to be charged on the capital account, and interested, and, in consequence, a lea has been introduced in the
these would be for the safe working. of the traffic. They present session for coon
a oftenabling this company, jointly with
were chiefly small sums, comprising additional sidings, leueutre'snteam e andv
Holyhead
the efficient performance of to
provide ae
widening canal bridge, and procuring an additional water passenger service between Holyhead and kingstownt, ithdertaa con-
supply at Wolverton, obtaining sidings for coal traffic, and tract with government; and a hill has also been introduced by the
alterations of foot bridge at Rugby, a junction with eliesteranu Holyhead Company for the calm:sicu of that line to the
the Birmingham and Gloucester line, and additional new harbour at Holyhead ; but the froeeeution or abandonment of
sidings at Cursen-street, Birmingham, the erection of these bil"s depend upon the declaim of the government on questions
a coal wharf at Kensington for the accommodation of the now
re unueluer theirs
i considerlion. Such of
ef tree measures as may be
large coal traffic which was rapidly developing itself. There
prosecuted,
tivaghrteruilslye under theticoonnsiderationnoof theuse of
proprietor,
was also a small expense for the extension of the general at a general meeting to be specially convened for the purpose.
offices at Easton. It was intended to proceed with the en- The hope which your Directors expressed in their lest report, that the
largement of some of the offices, fee the health of many of long protracted and costly straggle with the Great Western Com-
the servants who were confined in the present rooms, more patty might be terminated, has been eo tar re shoed, that an agree-
especially in the audit department, would suffer unless some meat al:ru been
thancotreluadmed providiert thati neeeltuher CoeTsrhiy,
ratan
Such arrangements were made. Then there was a slight ex- between the principal points of coe rpetiytion have in consequence been
prise for the enlargement el the goods station at Liverpool- revised, incuneert with that company. The shareholders bare been
road, Manchester, and fur additional sidings and goods accom- informed by circular out the
names f
ito he oil directors who, at the
sedation at Wasertree-road. There wag in the estimate a present ea eting. go out of office by tion, as well as the names of
sans of 1,1581. for additional signals and huts between London two other gentlemen who offer themselves as candidates for the Cra-
ned Rugby, in connexion with the extension of telegraphic ttlioen. TlLliuetibaei of tieve
general
trlreat dttit:culdyliii:tgl,vertieg practicali effect. to
eammanication which had been decided upon for some time to the re-electiong of retiring directors,u and ihreererree
by the officers of the company not only as conducive• but the sit directors who go out of office by rotation, toga.
absolutely necessary for the well working of the traffic to ther with the two proprietors duly qualifiert, above referred
London on account of the complication of trains, to, offer themselves as candidates on the present occasion, and it will
and which, the directors trotted, would prove a source of bjefeufetkiel suhartebtolders, out oflCediwr,neotr,numb.r, to elect six dime •
groat economy to the company by preventing collisions pet the death of tbeireColleague, Mr. Thomas south, t
adgtheaant rte-o
and detention of trains, as well as providing additional report that they Lave elected Mr. Samuel Henry Thompson, of Liver-
means for the safety of the public travelling upon the line. pool, to fill the vacancy pooccseioned.
(Hear, hear.) The proposals for that extension bad bait fur From the statement of the halt-yeafe secounte it
a long time under consideration, but it was found that the will be seen that thi net proceeds are £611,350 5 0
adoption of signalling of trains over to large an extent of '
to which add the balance carried tram last ac
41,197 is 2
line required considerable attention before it could he put count
in practice, and the directors had not been until now pre-
pared with deti-aitivo plans which they could submit to tic
proprietors. The expense would be but small, and the main-
! tonnes trifling, the whole of the estimates submitted on
this occasion being but 33,0001. Adverting to the other
paragraphs of the report, he might say that the directors
would have been very glad not to have again drawn the at-
tention of the proprietors to any parliamentary measures,
but several bills not involving much extension
of capital were before parliament, which would re-
quire, if they received the sanction of parlianteet, to
be submitted to a special meeting of proprietors. The North
Staffordshire Amalgamation Bill was to be proeecuted now
for the third session ; and also a bill for the improvement of
the Preston station, which was a bill introduced by the
North Western Company and the Lancashire and Yorkshire
Company as joint lessees of the North Union Railway.
There was also a bill, introduced not by the North Western
Company, bu. by the Stockport and Deiley Company, for
the construction of a line to Whalley Bridge. That com-
pany wined the North Western proprietors to subscribe,
and arrangements had been made which would no doubt he
perfectly satistactory to the proprietors. These bills, if they
received the sanction of parliament, would be submitted to
the proprietors. With reference to the Stockport, Disley,
and Whalley Bridge line, the North Western proprietors
were no parties to it at present, and would bear no part
of the expense. He (the chairman) had not gone into the
particulars of the accounts ; but he would do so if any
proprietor desired any information. There was nothing
else in the report, he believed, to which he need
all the attention of the proprietors; but it was right,
looking to the state of the country and to the state of the
traffic on railways, that he should say a few words on
the position of the company's traffic since the close of the
last half year. There were one or two rises connected with
the company's own arrangements which had effected the
expenses during the last half year. The altered circus-
etanose of the country during a portion of that half year
commenced to affect it. It was impossible but that tailway
property, depending so completely as it did on the pros-
perity of trade an the country generally, should feel
severely the effects of war and the stagnation of a great
portion of business, and the increase of taxation. Since
January Ist there bad been a great change in the stets of
the traffic. Up to the last week of the last year the traffic
continued to increase almost beyond the expectations of the
directors, saddling the company with considerable expenses,
in consequence of the difficulties presented at the termini.
Since Jan. 1, however, a very great change had taken plus,
a change which be did not think was wholly due to the
war, or to the stagnation of trade, although that had ex-
ercised, and would continue to exercise, a great effect upon
the traffic, but he thought tee state of the weather lead a
great deal to do with the diminution alluded to. The pas-
senger traffic must have been as much affected by the
weather, and the proprietors must not therefore set it down
in their minds that the falling off was entirely attributable to
the stagnation of trade, The directors, seeing that a con-
siderable portion of that change must be attributable to
the altered state of the colliery and the state of
trade, tack such steps as they thought proper fur
such a reduction of the expenditure as would meet the
altered condition of the traffic. It had been rather an un-
expected task upon them, for up to December lest they
were obliged to extend their arrangements to meet tho
extension of traffic. The board of directors were at menet
anxiously occupied in taking steps to bring about the neces•
eery reductions. Between 3,000 and 4,000 miles a week of
traffic would be stopped for the present month, without inter-
fering with any accommodation which had been given to or
required by the public. The directors had alto bed under
their consideration, in consequence of the diminished traffic
and iti changed nature, a difference in their stuff at the
various stations. The board knew very well that the right
mode of managing the affairs of the company was to adapt
its expenditure to its receipts, to keep down the ex-
penditure consistently with the safety of the pub-
Pic, and the director'looked with much ccnfldence to the
result of the arrangements which had been made, and which
were under contioplation, teethe accomplishment of this
object. The directors had not to look forward in the pre
sent anion to any veety expensive parliamentary contests.
There might be questio.'ts raised in parliament in which it
might be necessary for the company to appear, but they did
not look to those expenses sett that trouble which in former
years had ban the bane, not oesly done company, but of
all-(Hear, hear.) For many yCsill it bad been the uniform

administration that may pretend to conduct the busi-
ness of Parliament next week as a Prot isional Govern-
mut.— Vauvy Vows.

THE WAR.

At a general court-martial held at Balaklava, on
the 31st tilt., in pursuance of an order of Field-Marshal
Lord Raglan, dated the 29th of January, 1855, No. 1,260,
gunner and driver James Young, Royal Artillery, was
tried upon the following
C 10.11015:
1. For having, at or near Balaklava, on or about the 26th
day of December, 1854, struck and injured Mustapha Velet
Hussein, a soldier of the Turkish army.
2. For having, at the same time and place mentioned in
the first charge, struck and injured Suleiman Aga, an officer
in the Turkish army, in the execution of his duty.
Of which charges the court found the prisoner Guilty.
The tenet having found the prisoner frailty of the charges
preferred against biro, and having received evidence of his
very good character, do now adjudge him, the prisoner,
No. 1,260, gainer and driver James Young, R.A.., to un-
dergo a corporal punishment of fifty lashes in the usual
manner. (Signed) D. A. CAMZRON,
Colonel, 42nd Highlander', President.
W. G. Romanis, Deputy Judge Advocate.
Approved and confirmed, Feb. 2,1855, Ratmerr.
In consideration of the earnest request of the Turkish
officer who has been so ill treated, and of Osman Pacha,who
commands the Turkish troops in this part of the Crimea, I
have been prevailed upon to pardon the grievous offences of
the prisoner, gunner and driver James Young, ILA., in mal-
treating an unoffending Turkish "oldier, and then turning
in the most outrageous meaner upon the officer who came
forward to protect him.
The Commander of the Forces hopes that no such in-
stance of misconduct will again be brought before him, se,
in such a case, be will feel it his duty to take care that
whatever sentence may be awarded
by a Boocourt-tial shall
be carried into effect. (Signe)

M. Von der Pfordten, Prime Minister of Bavaria,
has arrived at Milan. He is charged, it is said, with
a mission relative to substituting for the Austrian
garrison in that city a corps of Bavarian troop*.

TURKEY.

OF 1111 DAILY

(PROM ♦ SPECIAL 11011ESP011
PI MTS.)

CONSTANTINOPLE, Fan. 12.
A vessel has just come in to this place from
Balaklava, with highly cheering intelligence, report-
ing the weather milder, food and clothing abundant.
The effect has been almost magical in raising the
spirits of the army and decreasing sickness. We
have now 20,000 men under arms there, and improv-
ing daily. An aide-de-camp of Omer Pacha is here,
taking up tonnage for the conveyance of 10,000
cavalry to Enpatoria• this, joined to 31,000 infantry
already there, will Make up a respectable force ; and
should these troops be at all like the defenders of
Silistria, some powerful diversion, favourable and
advantageous to the allies, may confidently be looked
forward to. The Ottoman troops at Balaklava made a
run of it, having the English to go to, but at Eupatoria
they must depend on themselves alone. There will be
no retreating, and we hope despair will make them des-
perate should they otherwise lack courage. The
intention is to distract with them the attention of
the army outside Sebastopol, and, if possible, to get
between them and the town on the north side.
Should they succeed in this, and be able to hold the
position, we may consider the fate of the town sealed.
The want of cavalry has been the cause of the long
inaction of the Turks in the Crimea, as they are
afraid to move from the base of their orerations
without this important arm.

.C;72,573 3 2
43,773 13 S

Lela further allowance for renewal of ra➢s

Showing a diepoinble balance of 625,802 9 6
The directon recommend • dividend of 21. Its per cent. for the
lust en months. amounting tr leaving a ba-
lance of 71,270. Ila 3d. to be carted forward to the neat half-year's
account.
A statement of accounts was incorporate d with the re-
port. The details were published in the Daily News on
Tneeday, Feb. 13.
The CHAIRMAN moved that the report be adopted and
circulated among the shareholders.
Mr. HADFIELD, M.P., asked what had been the amount
of law and engineering expenses which had been incurred
from the commencement of this company, in connexion
with all the companies amalgamated with or purchased by
it, especially during the last two years ? Their parliamen-
tary contests with other mummies had been ruinous to all'
concerned. (Hear, hear.) This company had, in fact, lost
a vast income in that way, and he was afraid the evil was
still going on. He should not be surprised to hear that the
money expended on these contests amounted to from
70,0001. to 80,000/. a year. (Hear, hear.) It IWILS a fact
that their dividends had been diminishing as their traffic
had been inereasing (bear, hear) and he could
duly ascribe that circumstance to the ruinous expenditure
to which he had adverted. He moved that an account be
laid before the shareholders of the amount expended in law
and engineering since the beginning of this company
through other companies being amalgamated with or per
chased by it, distinguishing the sums charged to capital and
income, and the amounts paid within the last two yeah.
Mr. HOYES contended, in opposition to Mr. Hadfield, that
the accounts of the company showed that, contempora-
neously with an increase of their receipts, thin dividends
bad increseed by about 50 per cent.
The CHAIRMAN, in reply to Mr. Hadfield, said he held in
his hand a return ordered by tk.e House of Commons, from
which it appeared that the legal and parliamentary
expenses of the company since its commencement, in ob-
taining acts of parliament for the main line and branches,
had been 608,3921.35. Bd. (which included the engineering
expenses up to 1849), and that the engineering expenses
since 1919 had been 19,5u11. 6e. 11, making together
627,8931. 91. 9d. The parliamentary and general law
expenses, charged to capital, were 250,9141. 19s. Ild., and
those charged to revenue were 172,6271. 13s. 7d., making
together 423,542/ 13s. 6d. The law sad parliamentary ex-
penditure of the session 1852-53 had been 140,0001. ; and for
the session of 1854 it had been estimated at 25,0001.
Mr. Wm. Mantles said the practical question for the
shareholders in future was how they could best increase
their dividends. (Hear, hear.) The reasons why their
dividends had fallen were two-fold—viz., their ruinous par
liarnentary contests with other companies, and the reduction
of their rates for carrying heavy goods and traffic. He con-
tended the directors had reduced those rates when there
was absolutely no occasion for it. He was also struck, on
looking over the list of the direction, at the amount of local
interest which was upon it. (Hear.) The people of Manches-
ter, they knew, likea cheap bread, and everything cheap, ex-
cept Manchester goody, but it was for the shareholders
to see that the Manchester directors did not apply to their
principle of buying in the cheapest market and selling in
the dearest, in the case of the London and North-Western,
to the detriment of the great body of the proprietors. Out of
the thirty members of the board, upwards of twenty came
from Liverpool, Manchester, Birmingham, and tee far
north. To that preponderance of local influence he attri-
buted the ruinously low rates of carriage charged by the
company. lie wished, before sitting down, to ask the
auditors whether they had audited both sides of the ac-
counts. (A laugh.)
Mr. FRANILLAND comp Lined that a sum of 14,0001. odd,
the estimated deficiency from the Shropshire Union Rail-
way, which ought to have stood against the revenue of the
present half-year, bad been postponed until the next.
Mr. PEYTON, one of the auditors, atatid in reply to Mr.
Fraskland tbat he (Mr. Peyton) at the last half-yearly
meeting protested against the practice of not setting the
loss from the Shropshire Union Railway aw.inet the reve-
nue, till half a year after it had accrued. In answer to the
question whether both sides of the account had been
audited, if it was meant by that to ask whether the audi-
tors had entered into the question of the rates of carriage,
he load to say that they had loot done to, iossoueh al they