The Express.
London, England, 1852-02-28 00:00:00

GREAT NORTIIEILN RAILWAY

liesterdarthe eleventh half-yearly ordinary general
meeting of this company was held at the Leaden Tavern,
sad was most numerously attended. Eourio Dimmole,
Eag
l.
P the Chairman of the board of director*, pm-
eidd
The report and statement of accounts, which appeared
la the Fares, of blonday last, having been taken as read,
The CBAIUMAN proceeded at considerable length to
address the proprietors. ilc commenced by stating that on
the day after their last haltycarly meeting her Majesty and
Prime Albert travelled :door the line, on their way to
Scotland, as far as !teamster, where the directors took
leave of the royal family• and had the honour of hearing
the Queen and Prime expecte their entire satisfaction
with the airrengements made fur their transit and
aticommodatius. 'the directors hoped that her Majesty
would again do them the honour of travelling over
their line when next she visited her northern sub.
juts. Ile was happy to say that public opinion still pro-
greeted in favour of the vempany. The' general receipts
for the last six months had considerably exceeded those of
the erred ding hallyear, having amounted to the large sum
of 315,6501. The traffic had inereared at the rate of about
3.0004. per week. lie had every memos to expect that this
integre would continue to °turreted, it met immassid,
and he was rather dispueed to think that he Ma eimelia Si •
few months it would be found steadier as this am la elle
(Aber line in the kingdom, because of the eaten ef tae
goods and mineral mile which they enjoyed. Ms seirtul
that the werkino expenses were undoubtedly leiegleediMago
where, in round numbers, about 50 per mat.; bet boa b
shoulo he recollected that they ran over 150 miles of lam
doily which del not belong to them, for the peep= et
obt addstioual tr.tlic, and this extension of fide
sphere of labour, which both directly and indite*
was beneficial to them. amounted in some degree fee tae
working expenses being considerable. The ezeursiosibMas
would account fur it in a still further degree. Upon the
whole, however, he must say that taking the receipts and
expenditure together for the whole six mouths the result
was to him most utietaetory. (Hear, bear.) The dint-toes
felt that the °Seer who managed their locomotive depart-
meut hail dischareed his duty satisfsetorily sad eMciently,
sad they had received many piooh of the great civility—a
cheap commodity at all times—which bad bees minced
by their numerous servants. (lieer.) The balsas* availlabbs
for dividend was 63.7471., and the director. I,IIIIMMNI
that that sum be divided after the rate of
cent. per annum, payable us sad after the
of March, which would have a balsam of 4111NL
to be curried to the neat half year's seem&
Under all the circumstances he conaidered this a fait mid
liberal dividend. There had been no attempt Mil IS
the part of the beard to "cook" the accounts. Theme
were amounts outstanding, fur instance, which would iles-
doubudly come to the credit of the proprietors hereafter,
but which were not included in the present statement, be-
cause they were a. yet unsettled. Besides, the board had
charged the. account with 27.0001. for half the interest oa
the money which had hitherto remained unproductive.
Had they wished to present a very flourishing statement,
theu things would out have been done, but, as the
had clearly earned upwards of two and a half per cent per
annem Le hope el the divide nil would, with these explodes
tied., be cluertully accepted. lltar.) Ile was happy to
that, after many intertiew. with the Eastern Comities
Company, the directors of the Great Northern bad at hue
settled toe buis of an agreement for a term of 14 yews,
which he truitSl would prove mutually beneficial ; sad,
it were not mullially beneficial, he should net have adegeld
it, because he was quite sure that arrengements of a MIM
teary nature /Adorn proved satisfactory to either of the put-
ties. Perhaps some of the shareholders might be of
opinion that the payment of 20 per cent. by the Great Nor-
thern Company from the earnings of the Eastern Counties
traffic sent from Peterborough to Newark, Lincoln, and
hull, and certain other Elects north of these towns, was
too high ; but if so—sad he admitted it wu high—let it be
borne in mind that hy the transfer of the Routes sad
Ilitehin and Sliepreth Extension line to the Ea-tern Cum-
ties, to be worked by that company between Cambridge mail
Ifitchin, in conceited with Great Northern trains,:thet
rammed rent to which the Great Northern was habbetand
interest, together 16,500/. a year, would have to be geld by
the Fotaterh Counties Company. lie believed, u WWI
said before, that the serum ment would be mutualltilbseiri
ticial, and that a harmony bad now been esta
between the two companiew, which would be of the greeted
value to both. (Hear.) With regard to the East Anglia'
Company, the report stated that the directors of the
Great Northern had agreed to band over to them any
balance of receipts, after repaying all outlay; and so
that matter was adjusted. (lies, hear.) With regard
to the arbitration undertaken by Mr. Gladstone,
between this company and the London and North Western
and Midland companies, he (the chairman) wished to set
himself right upon a point respecting which it was said
that he had mule a very considerable mistake. Whenever
be found himself' wror.g, he was quite ready to acknowledge
his error ; but, in the present instance, he fancied he would
be acquitted of having committed Rey great offence. What
be had said was, that he bad made a proposal to have the
matters in dispute referred; and, in saying this, it wee al-
leged that be had taken credit to himself for having made
a proposal which in reality had emanated from others. I
Now, the facts were these Two or three days
prior to the 2nd of April laid, he had nut the
rectors connected with the London and Meth I

Western Company, but being unable to come
any arranarnient, they parted. some gentlemen in the
House of Couinions then spoke to him about a reference,
and, smutted others, Mr. Hudson. (A laugh.) On the
2nd of April he was forwarded • letter, enclosing one from
Mr. Stewart, in whiz,' a reference to two gentlemen, named
therein, was proposed. lie (the chairman) refused to refer
the matter to the two gentlemen in question, but be pro-
posed at onee to refer it to Mr. Gladstone, and accordingly
• letter to this effect was written to Mr. Wyo. Ile hoped
that he had nut committed any great offence in making
that proposition ; at all events, the proposition itself would
show the shareholders and the public that he was bona
Ale anxious to refer all matters in dispute to •
competent and impartial tribunal. Mr. Glyn said he was
perfectly satisfied, and thus the matter was ultimately re-
ferred to Mr. Gladstone, and it became sub judice. Mr.
Gladstone bad since signed his award, and he decided as
follows, " in order," us he said, "to prevent the injuries
arising from the competition of two such powerful compa-
nies." la order to judge of the decision, it would be neces-
sary to state the condition. the Great Northern Company
asked, what the London sod North Western Company pro-
posed to give, and what Mr. Gladstone had awarded. fhe
London and North Western Compel' proposed to give the
Great Northern 70 per cent. with respect to the pas-
senger tragic from York ; the Great Northern wired
h 0 ; Mr. Gladstone gave them 80. (Hear, hear.)
With respect to the passenger relic from Leeds, the Loa-
d= and North Western proposed to give 60 per rat. •
the great Northern wanted 66i ; Mr. Gladstone gave thee;
65. (Hear, hear.) Witb respect to the passenger trifle
from Wale. field the London end North %% extern proposed
60 per cent. ; the Great No:them asked 66i ; Mr. Glad.
stone gave them 70. (Hear hear.) With respect to the
Dosessesr passenger trade, the London and North
Western proposed 70 per cent ; the Great Northern asked
6.1; Mr. Gladstone gave them 90. (Hear, hear.) With
respect to the Lincoln passenger traffic, the London and
Ninth Western proposed ~5 per cent.; the Great Northern
eked 85; Mr. Gladstone gave them M'S. (Hear, hear.)
With aspect to the Sheath' traffic, the London
sad North Western made ao der; the Great Northers
asked 66 per cent • and Mr. Gladstone gave them 65.
se (Hest.) The seawards served to raw that the Great North-
ers bed set been ussemposable is their demands. (" Hear,"
sad mime" Thee, with regard sefrom York, the
Lassies Mil North Western 00 per cent. ;the
Great Herber' asked 66k r. Gladress gave them 75.
Meer, hoar.) From Leedt;, the Load's lad NorthWesters
40 per cent.; th, Great Northern asked 50; Mr.
tri= gave PJ. From Wakefield, the Leaden and
North Wailers proposed 10 pet cent. ; the Great Northers
asked N; Mr. Gladstone pave 60. Oise/4 From Hoa-
rser, the Landon and North Western proposed 1111parenat.;
the Gnat North. en asked 113 ; Mr. Gladstone gave 60.
Pram Lincoln, the London and North Western NeOaasd 60
per essat., the fiieat Northern asked 75; Mr. 0
gam 70. Frees Sher. Id, the Landon and North Werra
mode en offer ; the Great Northern asked 50 per met.; Mr.
Ordstese gave 30. So that, with only one or two @emp-
tier, they had got more than they asked. Was them,
them, anything unreasonable in their original dramatis /
(Hear, hear.) lie called urea the shareholder to rimer
forbearance towards the heard, sad to believe that if the
direstors, who were willing to make terms with other par-
ties, did set in all c.,ses enter into arrangement., it was sot
bear« they would not, but because they could not. (hear.)'
Mr. Glasistose's award had bare forwardedand it was to date
bask from the sth of April last. But, after that award had
been made—the design of which, setording to Mr. Glad-
stone's owls words, was to pryer Injaricsue competition—
would sot any half dose. saes of raiser in the City say
that the two parties haying agreed to refer their disputes to
• third perm, in order to see how the money was to be
divided, it was the dry of both to earn as much of revenue
as they could? (Hear.) It was indubitably clear that
such ought to have bees the ease, but the other parties acted
on quite • differs at principle, sad nothing that he cord do
could prevent them from going ea with a ruinous
competition, scandalous to say body of trustees.
Although Mr. Madison**e award had been delivered
to them in August rot, yet mroonerdid • sew descriptive
await arise than they commeneed the Ism pre as he-
furs. Doncaster races rams Gila • The gesseal
rareger of the Great Narks% • war tho that
ever, iuformed Captain Hsi* Of the Lead= awl Nat&
Weighers Company, that it was tbs itesollow of the Accost
to take the paasragery to Dansolar sad bask kr sae tars,
as in former years. The Lllllll6llllasd Nortb•Wasara Com-
pany thereupon, though bailed by Mr. ObrihMar's award
to Ave per cent. as r etweea Desengler sad Lass, aerially
missed the fares between dam plum dl per cent.
below the fares of the Offaht Wwitara. as that
while the one was canileg there end bask
for twenty shillings the Mlle walidistaL _4017
10e. Anything more unworthy or MOSS then
this, which must have been a refailmennedies, he kid
never heard. (Hear, hear.) Itailme *ay mama' 8 tea of of re-booking at Norm a 1.% wbisb, ha kis *else.
would have practically dadrayet the award ; and,thewhole, he raidwhole, come le Msradaaws dna Mat
they was read seder the biIIiSINIS Si haw whisk he
loped he shield is,,, satertals. ram, boar.) In Oa
Mast, be writs • baser lb. Glyn, ..iil' bb earlier at-
leatiaa r thaw ebtamsmeessr sad saying that he rasa-
dorsi &as miltrias Ma skis at iambi elf Ow award- It
masa Ad ward “ trim"" bad Vasa saw% bet
M woo sa Maaisa. savallias—ca• sit widsb they WI
es be atimMaL (Hear boar.) Allot Imarkhg
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