The Express.
London, England, 1855-08-16 00:00:00

LONDON, THURSDAY EVENING, AUGUST 16, 1855.

RAILWAY INTELLIGENCE.

NORTHERN AND EASTERN RAILWAY COM-
PANY.- ( THIS DAY.)

The half-yearly general meeting of proprietors was
held this day, at the Company's offices, Hashemite station,
London ; Mr. Richard Pitmen, Chairman of the board of
direeton, ia the chair.

The following wee the report :—" The directors have to
report to the proprietors, that the dividend on the rupee-
live shares of the (mammy for the half year ending the
30th of June last, will become payable on and after Satur-
day, the 25th instant, awl will be as follows:—On shares
of 501 guaranteed 5 per oast. per annum, 11. Si. each; on
shares of 601. guaranteed 8 per cent. per annum, 11. 100.
each less property tax.
" The two damson retiring from office by rotation ere,
the Hoc John Healy Knox, and Jobe Clermont White-
man, SKI., and Mess gentlemen, being eligible for re-
election, offer themselves ateordingly."
The report was adopted sad the retiring directors
bele, weMtWds the presealings terminated.

BAST INDIA RAILWAY COMPANY.
(MIS DAY.)

The eighth half-yearly general meeting of thin
company was held this day at the London T , Bishops-
gate-street ; Mr. R. W. Clowroaw, chairman of the board
of directors, in the chair.
The report stated that, in accordance with the anticipa-
tions ezpvessed at the last meeting, the line to the Rene.
gunge Collieries was opened for traMe in the
beginning of February last, being • length of 121
miter, the termination of the first or experunental hoe
The walk ratans given in the last report were brought up
to the 2nd of December, and they have since been received
for the nest twenty-fonr weeks ending 19th May lest.
During the first nine weeks of this period the line was
opened for 37; miles only, and the aggregate number of pas-
augers curried was 74921, or an Re of 7,991 per week.
The gross takings for this period were 3,6461.45. 62., or an
average of 406/ 2s. Bd. per week. During the nest fifteen
weeks, after the line had been opened for 121 miles, the
aggregate number of passengers carried was 179,404,
or an average of 11,960 per week. The room takings
for eleven week. out of the fifteen were 10,0721. 165.10.1..
.r an average of 9161. 14s. 2d. per weak.
The workapenses are estimated at about 60 per cent.
There haven already shipped 83 locomotives and 760
seta of iron work for carriages of all kind', and these ship.
manta are being continued daily. During the sir months
audio( 30th June the board have forwarded not less than
40,000 toss in engines, permanent way, and other ma.
wrists.

The report was :adopted, after which some routine hul-
ler was gore through, and the meeting terminated.

NORTH LONDON RAILWAY.

The eighteenth half-yearly meeting of the North
London Railway Company was held in their office at the
Ruston-square station yesterday, Joun Ikon, Reg , in the
chair, whoa the directors presented the following report :
" The revenue account for the past half-year exhibits the
following result:—dross receipts, 62,99 U. 11... 21, ; gross
expenditure (including the toll payable to the Blackwell
Company), 29,8471 10s. 2d.; leaving 23,1441. le. • add the
balance from teat hilliest, 1,7421.105. 7d.-24,938/. lls. 7d.
Deduct interest on the debenture debt, 6,7731. 4s. 6d. ;
dividend of 2 per cent. for the present half-year,
17,9101. 16e.-24,6831 19s. 6d. Balance to be tarried for-
ward, 2521. 12.. '2l. The receipts from passenger traffic have
been less by 1.41191.185. than daring the correaponding ela
months of 1854. The goods traffic his recovered its posi-
tion. Coke, and other items of stores required for the
working of the railway, having greatly advanced in price
at the commencement of the present year, it became the
duty of the directors to endeavour to adopt some means for
meetiog the additional expenditure thus necessarily
incurred. With this object, and der gto the
general opinion that the scale of fares was unduly
low, the directors, in April last, ceased to make an
allowance upon day tickets for the double journey. This
experiment not prov ag successful, the former system of
malting an abatement from the double fare on day tickets
was partially restored on the Ist of June, and, es far as can
be ascertained, with satisfactory results. A portion if the
deficiency in the receipts from passenger traffic above
noticed may ao doubt be ascribed to the temporary aban-
donment of the day ticket system. It is satisfactory to re-
port that the working of the traffic has boon conducted since
Feb. last'with that regularity which is essential to the success
of the unlerteklng. In consequence of the present insufficient
number of the company's stock of passenger engines, this
important result hisbun accomplished only by great ;Ronal
and at an increased oat for engine power. The locomotive
expenses fur the past half-year are higher by 1,7212 5.. 11d.
than they were during the correspondiog six mouths of
1854, and 2,7781. 6.. 3d. more then during the last six
months of that year. Since the last general meeting three
goods engines have been delivered by the manufacturers,
and the time has now arrived far the delivery of the addi- '
tional passenger engines contracted for last year. When'
these are received greater economy of working may be
effected. The new Metropolitan Cattle Market was opened
on the 16th of Jane last, and there would appear to
be good prospects that the expectations of a gradual awession of traffic from that slum will not be disappointed
In the account' of the past hell year, the revenue is charged
with interest on the borrowed moneys, raised on the secu-
rity of the company's surplus pro?erty, sad in anticipation
of the issue of shares in the new capital of 1854 ; and the
rents arising from the surplus property have, on the other
hand, been carried to the credit of revenue. Oat of the
122,6601. five per cent. debenture bonds, shown in the
capital account, 61,0001. fell due on the 10th July last,
when the directors were enabled to raise 66,0001. of the
amount at 41 per cent , and 6,0001. at 41 per cent. The
vaeasey in the direction, which has bees occasioned the
lamented death of Mr. W. H. Thomas, has not bundled
up in the usual manner by the board, the directors deeming
it advisable to leave the seat vacant until the ordinary elec.
tits° in February, 1866."
The CHAIRMAN heel's moved the adoption of this re-
port, sad of the statement of account., with a tow appro-
priate remarks, . . _

Mr. ONION made some comments upon the ispolicy of
the step taken by t►e directors last March, in raising the
fares, to which he ascribed, mon that to any other eases,
this falling off of the traffic receipt'. lie also referred to
the imperfect arrangements made for the management of
the passenger train:, and the risk of the company being
defrauded while the allure neglec•.ed to require season
tie►ets to be pro'noed by their holden upon every occasion
when they traveled upon the line.
The Cmalaxam and Mr. Rosa MArrotn, one of the
directors, replied to these observations, that the fallinx off
of the porringer traffic to the amount of 1,4001.
should not be attributed to the alteration of the fares, because
decrees of traffic had been experienced by the
Tilbury and Southend, a line similar to this oae, and by
abreast every other railway : and its real came was the pres-
nre of war taxation upon the people.
The report having been adopted new. Con.,
Mr. 0111TOX proposed a resolution, declaring that it was
expedient to return to the old seals of fares, and this was
carried bet with few dissentient votes.

Some farther coo iou ensued, in which Mr. Pitts,
Mr. Parson., Mr. Herapath, and other gentlemen, took
part, sad the Chairman amend thee that their reeom-
suendationn as well as the resolution whisk had just bees
past, should have the best consideration of the directors.

A dividend of two per cent. for the half-pear was then
declared.

A resolution was pseud, authorising the directors 10e:-
'raise the powers conferred by the company's act of 1144, to
borrow the sum of 25,0001. ; and another resolution, for the
purpose of minvertiog or consolidating the 501. and 101.
shares of the company into the general capital stock, so
cordials to the set Bth Victoria, chapter 16th, section 61st.
With a rote of thanks to the chairman the proceedings
ended.