The Express.
London, England, 1863-09-18 00:00:00

GREAT WESTERN RAILWAY.-(THIS DAT.)

Th'• afternoon the half-yearly general meeting
of the proprietors of the above amalgamated company was
bell at the Paddiogton station, for the general purposes of '
th,l.usioess of the company. Mr. RICHARD Porrea was in
Ws aim
The tePorkwhich was taken as mad, states that the revenue
semists alone are blended in one joint account, as they
sot :,tterly been, under thee subeisting agreement; show-
;.,; the receipts and expenses of all the several lines,
votber belonging to or leased and worked by the Gteat
u..atsio. the West Midland, and the South Wales
,0219 during the seven preceding mouth. From the Ist
of tugust, 1863. the legal amalgamation then commencing,
the accounts, whether of capital or revenue, will
incorporated for the future under a neiform manage-
ot, in one set of books of account, and will be published
,:hoes of the united company. They have given instruc•
ens to the thountents not only to inoorporate all accounts
tram the date of amalgamation to one set of boa*, but to
-epare and submit to them and to the auditors a form of
Alen' halenceabeet. to be hereafter verified and published,
gather with the accounts of each half-year for the infor.
atlas of the proprietors. The follpwing silows the dine•
the between the same seven months in 1862 as matraated
irith those of 1863

Iraise.ngetS, malls: SE.

.. £78.068

I

643

Plare Is, warehouse rent, tte.

U.otl

.Is:ntenanoe of way
L.,,omutive expenditozo
Ai other expenses

. 705,779 .. 62.576
. 66,792 .. 11,271

/21,481,08$ /1,671,452 VAIN
URI INCUR/ID.
POI 1863. Imam
111 %. 202 .. 160.4611
.. 175.676 .. 104006 .. 17,46
396,948 .. 400,307 ..

AMMO £758,766 131,979
p.riog the former period of 1862 three months of the Is-
iereational Exhibition traffic—viz., from the Ist of May to
the 31st of July—had contributed very considerably to the
r,,eipta of the company in respect of massagers. The
&lemma of mileage of railway, however, between the fore-
foot periods °masa of 91t increased miles worked doting
tie latter period. The additional rent charges paid is 1863
re 34,802/. The available balances on the 31st of July,
I+4, after defraying every expense and providing for every
!ibi,ity, will enable the general meeting to declare the
-Bowing dividends for the seven mouths, payable on the
it of October, to each set of proprietors, us. :-20a. for
orb 1001. of coneolidated stock to the Great Western
od Windsor shareholders • Is. on each 1031. of original
to toe Wed Midland (Oxford) shareholders ; and
for each 1001. ordinary stock and shares to the South
Nam sliarebokters. The following balances will be apse
:carried forward to the aspirate credit of each company in
he current half-year—via, Great Western shareholders,
;,707/. 144. 2d. ; West Midland (Oxford) shareholders,
:,0A)/. Oa. sd. ; West Midland (Newport) shareholders, 4301.
a. 3d. ; and South Wales shareholders, 8641. 36.6 d. Having
:ward to the future accounts, bat more especially to the
continuous audit of them, the time has arrived when the
pr,pristom assembled at the Bret routine will be called
upin to make some provision for that service. The
regretted death of Mr. Atkinson, in February last, lee
made a vacancy is the Great Western audit. The
directors are of 'make that it will be expedient, as
well as prudent, wider existing circumstance, that the
audit should be coofined for the present to three Instead
of two auditors. and that one auditor of each of the three
companies should now be appointed, and the male of yearly
sl.owenee to each be fined. It is proposed, ia the first
pine, no longer to vest in one hand the duties of micenary
sad impenntsodent, heretofore held on the Great Western
Railway by Mr. C. A. Sandere, who, as already reported to
he proprietors, in February het recoiled his wish to retire.
The director', however, deemed it eseeatin to retain Mr.
Sinners's active cooperation during the passage of the
rpulpuration bills, and his knowledge of the put and
ludas taaosactioes of the company ought to be, and will
le, accessible for may years longer ; but now that the
Una subject of the noeseeisatioes of the staff has to
• arranged, in view d the future acemomy and dive-
brunt of the undertakiag, the directors have mini-
suety decided to recommend a retiring allowance of
1,2501. per annum, to be soared to Mr. Saunders from the
meat which hie resignation shall be fixed. In addition
t, the agreement reported at the last Great Weston half-
fairly meeting as having bees male with the Loudon and
South Wester') Railway Company, the directem may report
heir proceed' hum' similar objects I. view, by mega
istions with the and North WIIdFD. the Midland,
tad the Vale of Neath Railway Companies, with each of
which mutual aeronauts of much importance have been
=chided, sail which axe severally 'scheduled in the Amal-
gamation Ana as enetsoned by parliament. The effect of
all those various uvaagements, including that with the
Booth-Western Railway Company, is to promote peace
sod harmony by utilising existing lines, and pre-
venting an unnecessary and wasteful expenditure of
fresh capital for useless or norerannerstive projeota.
The directors are already giving effect to all those
meats with other companies, aad hops to reel=
anticipated results at an early date. The directors have
teodered to the Metropolitan Oommus7 stag' laditend
mistime within their power far carrying on the local ffic,
and they have arranged within the last few day@ to run some
trod mime train with suburban through traffic, over the
Else, renderag those trains available at the some time for
local baffle. -Daring the last session several most hostile
sod unnecessary schema' were submitted to the legislature,
promoted in the districts coesented more ow Ism with Staf-
fordshire, Sbmpehire, and Cheshire, which appeared to the
Ludo' and North-Western Company, as well as to the
Gnat Western and West Midland Companies, fraught with
mischief to their respective internam, bet without any corm
Wog advantage to the pubho, se that en oppositionto
in parliament became • necessity. It he with mach
pleasure that a statement may mew be made of gement sea-
ms in that joint opposition, as well as is the means taken
to coanteran some other iejurioua legislation during the
nee radon. 'Daimon as summates el the Lona, when
least* one handle scheme, had recommended fatalities to
be gives foe ea interchange of traffic over • ppoorttion of the
nags is the mime district, the directors immdlately framed
the moat orimprelsonve classes to be inserted in the ADISI•
Peatioll Bills, having it in view to render such ennui
hailtiht and, althoonli the promoters of the hostile lines
resisted the iatrodaction of them, both houses of parlio
meet agreed a giving insertion to those clauses. The
West Luella Extension Railway, belonging to the Loa-
the and North-Western, the Sonth-Wastera, and the
Brigham Railways, cocjointly with this oonapany, wet
wooed to the public in the bening of the year,
and Great Western trains have bees rusehig over the
railway into the Victoria station at Pimlico sine the lad of
April, IBM. The Bristol and South Wales train Rail-
way bas just been oompleted sod emend, and a working
agreement has been syringed with that mammy. The
Cornwall lin to the town and port ef Falmouth- has been
recently opened for tram's, and completes the system to the
most westerly port is the BOMA Mann. At Birkesheed
the great low water beds is sow surly completed, and may
be opened for bailees withia a few weeks. It will be ao
canary to anthoeine the raisin of 35,0301. to meet the ob-
tainment for cuatriliatiag that nem towards the Ely Vapory
capital. It will be obeseved, by reference to the iceman
of capital remind, that instead of iamb; for penmen
invention the capital stock of 1,0110,0001. nested in
1861, temporary adviser have base accepted from
tiros to time, as thee authorised. The powers of the
Capital Act, 1861. enable the company to create an addi-
tional mm of 227,6621. of stock ; and, in order to provide
for every coatiageocy and to repay all adenoma the
directors recominsod the resolution wh eh will be submitted
to the meeting to create it, and then offer to the share-
holders, in the first inshore, the entire amount of
1,227,5621. puritans', upon conditions which will be likely
to produce. In pennant investment, the whole sow.
Although the deuces already made to the company have
been obtained at • moderate rate of interest, the trader.
taking is subjected, from time to time, to commiesimis and
each other expenses in respect at temporary loans as
enable the directors to declare that, in their opinion,
no increased charge I'M became payable in con-
sequence of the issue o. the mid stock ; but, on the other
hand, that the company will be greatly relieved from all
contingencies or risk through the tun ectiou so mou e.
mended, of commuting temporary advisee into permanent
capital. The ordinary resolution for enyerting @bares into
stock of each section of the company as coos se paid no will
be brought at the same time under the osemideratioe of the
proprietors. Immiy after the last special mesh% of
proprietors for the of eight.., Great We-tern di-
rectors. Mr. Walpole retired from the chair which he had
yet tie garnet roped of Ilase=ses.
The
raareVielemehree ansalpmend Mr.
Richard Potter as chairman, sad Ifccr.ag=i Futon se
deputy chairman of the united andertaMag.
The CHAIRMAN, in moving the adoption of the report,
mid he was glad to see se large as assembly on that the ant
occasion of the easetieg of the united boards. The
commie, now had • eintal of 41,000,0001., and •
mileage of 1,000 mike. Bosh wee thin unties sow.
The parent line was onimeneed in 1635 with a capital
of 3,300,0C31., read was opened in 1840. The Great Western
proper was le 1846 what it wee le MB Bat they were sow
amalgamated with Mbar line, which mac a policy of rest
pueblo The grown of the Gwen Western was amnia hem
1846, and it we that whisk sensed the depreeistiee of the
ordioary nun There wan an absolute ideality between
the interests of the ordinary shareholders in the One cem-
palsies—the Great Woman, South Wales, and West W-
ind. He hoped the time was sot far distend when there
would he en absolute identity of capital ma well as of joist
iatereet (Hear, hear.) There would be a divides of labour
• Aimee a divided resporibility amongst the 28 members
who now composed the board. They Intended
to divide themselves into committee* for that
Purpose. He had to announce to them that it
no. was the insatiate of Mr. [Undies to
resign. The of of secretary and general would
henceforth be divided, as they ought to be, • the eon
mitten to which he alluded would take the direction and
superusioi of both those departments ors themselves. This
brought hi m to the gaieties°, a retiring passion whin should
be given to Mr. Smolders. What the hoard proormild was
to give a pension of 1,2X1/. to Mr. Sannelere. (No.) He ad-
mitted there was po weal or legal obligation on them to give
auh a pension. But Mr. Situaden'experimeeemad linflaandere
memory of put trunnions would be of great am to them,
and he hued the proponiou of the board would be re-
ceived gracefully sad unanimouly. (" Hear, bear," an
50, so. It wee true they might lave Mr. Senseless en
the but that could not be effected now
till four of the present board retired. The claims& thee