The Express.
London, England, 1863-08-07 00:00:00

LONDON AND NORTH WESTERN.

The following circular has been addressed by the
secretary to the proprietors of this undertaking:—" I am
instructed to forward to you the annexed copy of notice
convening ordinary and special general meetings of proprie-
tors for Wednesday, the 12th inst., at noon. In order to
enable the warrants to be prepared ready for issue, as usual,
immediately after the declaration of the dividend, the trans-
fer books bad to be closed on the 29th July, and the meeting
called within a fortnight of that date. As, however, the
accounts cannot be issued so as to be tin the hands of the
proprietors seven days prior to the day of meeting, the
ordinary business will be adjourned to Friday, the 21st inst.,
at noon. The business of which special notice has been
given will be considered on Wednesday, the 12th inst., and,
to assist the proprietors in forming a judgment as to the
course most expedient to pursue to raising the additional
capital, the directors instruct me to state the following
material facts, :--1. That for the year ending '3ots
June, 1850, the dividend was at the rate of 5 per cent,
per annum. At that time thin company had the advantage
of being the only carriers by railway between Loodoe,
Manchester, Liverpool, and many other important places.
Other routes have since been established, leading to compe-
tition, and to a division of the largest and most valuable
traffics which the company possessed. The violence of
that competition, combined with the loss of traffic, re.
duced the dividend for the year 1858 to the rate of 4 per
cent. per mum. The dividends paid on the ordinary stock
for the 26 half-years, from Ist July, 1849, to the 30th
June, 1862, bars however averaged 41. 18s. 10d. per cent,
per annum. 2nd. The distress and depression of trade in
Lancashire, consequent upon the continuance of the civil
war in America. still affect most seriously the traffic of the
company; yet although the traffic of the year 1862 was ex-
ceptionally and considerably augmented by the International
Exhibition, the receipts for the 30 weeks of the present
year (after making due allowance for the additional mileage
opened). exceed those for the corresponding weeks of the
pest year by more than 100,000/. 3rd. Speaking geneially,
the market value of railway property ham not increased
during the last twelve months :—on the let July, 1862, the
price of consols was 91I; and on the Ist July. 1863, it was 92.
Between the NUM dates the market price of the London end
North Western ordinary stock increased 10 per cent.
A consideration of these facts will enable the proprietor. to
judge whether, having regard to the put and present eir-
cumstancee of the company, and to the probable future, it
will be most advantageous that the capital shall be raised
by the issue of stock bearing a fixed dividend, or by a stock
entitled to the ordinary dividend. The capital for the pur-
poses of the Birkenhead Railway will be raised jointly and
equally by the Great Western and London and North
Western Companies. About half of the amount proposed
to be created will suffice for the completion of the Bootee
and Belaby and Parke:ate lines, and other engagements of
the Birkenhead Company. The balance will be available
for future requirements is connexion with that undertaking.
The lines of the several companies enumerated, end with
which agreements have been entered into. are Dow in pod-
eession of or worked by this company ; but it is deemed ex.
pedient that agreements should be completed under the
specific powers contained in the acts of last session. Deben-
ture bonds to the amount of nearly 2,000,0001. having been
converted into 4 per cent. perpetual debenture stock, it
becomes necessary to take a resolution of the proprietor
authorisiog the renewal= of a further amount, is the raw
manner and on the same teems.

TB QUERN% HOUSIMOLD.-11 in any family in
the kingdom pare bread would be expected to be found. it is In
that of her Most Gracious Majesty Queen Victoria, and we dad
the Queens prleate baker procuitinces Borwiek's Baking Powder
••s most excellent sad useful invention." The rime judgment
has by thousands of families been pronounced upon this powdiw,
which le now extensively used throughout the length and breadth
et the Mat —(Adeertlsanient I

Jul ETS.

TALLOW. THURKDAT EVENING.—The market was
quiet to-day. Spot, 4.ts. ; ti-pteu,ber, ; October to
December, 43e. tel. to 3d. ; December, 45e. fkl. Delivery
to last evening, 40d arks; arrivals ditto, 1,6U7.

00TrON.—Livampooi, Auomrr 6.—We hare had a &II
slow market to-day, at previous prices. The tales are 4.000
bales, of winch 1,000 are on immolation and far eoet.
200 American, 201 to 22,1 ; 3.3:10 &List, 11N. to 204. ;
0 Egyptian, 200. to 21.1. ; 110 SaliM and Yam* 21d.
The wesk's import is 60,662 bake.

WOOL AND WORSTEI).—BRADFOID, ACCOST 6.
There is no new feature in the wool market, and Waimea
remains in an inactive state. The scarcity of wool in the
country (as indicated by the small quantity shown at Don-
caster) sod the high rates for which growers hold out
make staplers here indifferent about fanjet, and unwilling
to force sales on: quotations are Dot generally maintained.
The dem►nd for yarns does not increase. We hear no com-
plaint of frames being unemployed, and spinners of some
sorts of yarns are czooedingly busy, but the business done
is chiefly in small quantities. Export merchants ►re espe-
cially restricted in their operations, arid the numbers most
used for shipment aro greatly neglected. In two-folds
activity still prevails, and it is difficult to get orders exe-
cuted. Carded yarns also are in good request. Prices aro
not materially changed. Spinners moot obtain any
advantage in wool, and are obliged to maintain
their rates with firmness ; indeed, for 30's weft
some spinners are refusing the terms offered last week.
The quietness which has characterised our market for some
time continues without much alteration, and the American
intelligence brought by the Jura is so conflicting as to
prevent any favourable change which otherwise might hare
taken place. The piece trade is on the whole in a sluggish
, state, at least as repels fresh business, sad the transac-
' Lions to-day are confined to a few orders in lance and plain
orleans. Manufacturers have still sufficient orders on band
to keep their weavers going, and stocks of nearly all de-
scriptions of goods at home and abroad are represented +a
exceedingly light. There is no very material change is
prices, owing to the flatness in the Liverpool cotton market.
The transectioos of buyers are only on a limited ace* and
each as to cover their regniremsota for a short time. There
is thus wily a quiet trade with a Arm tow.

LACE AND HOSIERY.—NOTIINGIIan, AUGUST &
Lace : At this per:Qd of the year the lace tends is always
quiet, and the present season is no exception to the rule.
There is a tolerably a :tire demand, however, for the foreign
markets, and the inquiry for Mechlin matinees good.
Cotton fabrics sell slowly, but for black silk laces and
edgings there is a fair inquiry. Italian and German buyers
purchase pretty freely all kinds of fancy goods. Stocks are
kept low, and nothing is done except for present require-
mentc.—Bosiery : There has been a better trade doing since
our lest report, both for Lome and for export. An uneasy
imitation was created a few days ago by the rumour that a
large number of American orders had been rtmailled. The
trail., however, continues to improve, and more workmen
are employed. Yarns continue grin, without any indication
of falling.—Nottingham Jou, xel.

ArOVIT 6.—At this day's market
there wrs an lammed supply of English wheat, for which
higher prices were demanded, but not generally complied
with. and we make no alteration in our quotation.. Barley
tending upwards. Oats and Beane unaltered. Pee; la.
per querter. cheaper.
Drum" Avourr 6.—We had but a abort rapply of
wheat to-day, to be attributed is great measure to
Tao-hill fair. and in consequence an advance of 6d. a ereh
was in some instances obtained. The best wheat may be
quoted from TS.. to 24e. 6d. Other articles without altera-
tion in price. Best rod wheat, Zia to 24e. 6d. • inferior
aorta 17a. to 225. ; grinding barley. Ma. to Ve. ; oats,
. 21e. to 265. • beans, 20e. to 225. G.& • peas, 18e. to 21s. ;
fine Sour, 37.. to 40r. ; other Baur, ha. to 365.

MANCHESTER, AUGUST 6.—Our market this morning was
slenderly attended. There wax but little English wheat
offering, sod with a slow demand pricm underwent no ma-
terial change. American at the same time was rather
more inquired for, but without leading to much business,
and we repeat the quotations of this day se'nuight. Flour
commanded little attention, and, except for choice fresh
qualities, was in favour of buyers. Oats sold slowly at late
rates. Egyptian beans and Indian corn were each lid. per
quarter cheaper.
Ngwaac, Aucrterr s.—Hers today there is little doing in
any kind of grain. Primes about the same as lest week.
Ntwnonr, Anoint' 6.—We had a small supply of whisk,
for which the trade was very slow, at about late rates.
Very little doing in spring corn.
UXBRIDGE., Acourrr 6.—A small attendance, and few
samples of grain offering. New wheat of good quality sod
fair condition made 58e. per qr. New oats, 42113 e. per
bushel, 24e. per qr. The trade in general slow.
EDINBURGH, AUGUST s.—As compared with lut week,
wheat was 6d. down on the top, and 9d. down on the
average. Barley was Is. up on the top, and 3.. 3d. up
on the average. Oats were woo on the top, and 6d. down
on the avenge. Wheat, 345. to 49a. 6d. Barley, 2/Is. tld to
3.2.. 6d. Oats, 21s. to 31s. Beans, Ma. to 435.

CATTLE.—NolinrcitAw, AUGUST s.—Pat beasts WWI
in large supply at 3.1. per stone lower. Sheep not muck
altered. Demand flat. Calves as before. Pigs lower.
EDINBURGH, AUGUST s.—The supply of cattle was 379,
being 30 lees than on last market Sales were doll. Bast
beef, 7s. 6cl to Be. • middling and inferior, 6a. 6d. to 76. 3d.
per stone. Al the close • clearance was not effected.
There were In the market 6,565 sheep and lambs, being 1.111
less than last week, 393 of which were store bow. Priem
were much the same as thane obtained at last market. Top
price of mutton, 7d. • current, 60. to 6N. per lb. ;
ewes, sd. to Gd. Lambs, top price., 295., 26a. current,
18s. to 245., and down to lla. 31; blackfaced, top, 14.., 135.,
12s. 6d., 104., and down to Si., a head. Fed pigs brought
from sa. to ss. lid. per stows ; six to eight weeks old ditto,
from 9a. to 12s. a herd.

The steamer Saxon left Plymouth yesterday
evening with the Cape mails, 88 sacks el newspapers, 14
sacks of letters, 12 sacks of books, and 80 passengers.

The Hamburg and American Company's steam-
ship Bonusia, from New York oa the Mk ult., arrival
off Cowes yesterday evening with 54 bags mails, 96 pas-
mongers for Hamburg sad Havre ; 748,113 dole. in specie
for &Wood, sod 151,968 dots. for Frames, sad 13,000
packages of cargo. The City of New York arrived off Sandy
Hook on the 25th eh- liar yews has ham antiospated.

THE STEAM TRADE ACOOMODATION AT LIVERPOOL.
—Considerable discussion took plaoe. at the Mersey Dock
Board yesterday relative to the provision of more socommo-
dation for the steam trade. Mr. Forwood said that the
dock space on the Liverpool side was quite inadequate to
the demands, and that the difficulty would soon be in.
creased by several new lines of American steamers. It wu
stated that the steam trade objected to go to Birkenhead,
though some of the members of the board contended that
there could oot be a better site, while the facilities for the
shipment of coal, ke., were much greater then at Liverpool.
The Chairman (Mr. Raukio) intimated that they would not
go to parliament for additional powers to provide space on
the Liverpool side unless they had a guarantee of support
from the steam trade. -

THE RATE IN AID Aer.—At the meeting of the
Tooteth board of guardians, held yerterday, a resolution
was unanimously passed to resist the call for 1527. it.,
laid uader the provisions of the Rat* ia Aid Act, io respect
to Ashton-under-Lyne. The rate is not viewed with favour
in the districts around Liverpool.
-

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BIRTHS, lLtaltLiGSB, AND DEATHS.