The Express.
London, England, 1852-08-20 00:00:00

TAFF VALE RAILWAY.

The general half-yearly meeting of the Taft' Vale
Railway Company was held at the White Lion Hotel.
WALTER COFFIN, Esq., M.P., the chairman ofthe com-
pany, presided, and called upon the secretary (Mr. Kenway)
to read the notice calling the meeting, and to affix the
company's seal to the list of registered propriet mu.
The directors' report was then read, and was as follows :
" The directors of the Taff Vale Railway Company have
again the pleasure of meeting the shareholders at the period
prescribed by the act of incorporation. The balance of ac-
count again allows the directors to declare a dividend of
el. 10.. for the half-year on each original share of 1261.,
payable on the 6th of September next, and a dividend in
proportion on the quarter and 101. shares. They also apply
the usual half-yearly sum of' 7501. to the depredation fund.
Your directors have to apprise you that they have entered
into contracts fur the formation of about 12 miles of a rail-
way, for the purpose of completing the Rrhoudda Valley
branch, and the works are now being prosecuted with
vigour. Since the last half-yearly meeting a severe colliery
explosion had occurred at the Middle Duffryn Colliery,
situate on your line. By this catastrophe 65 lives have been
sacrificed, and 28 widows, with 69 children, have been de-
hrived of their usual means of subsistence. A subscription
aving been generously commenced for their relief, your
directors recommend that the sum of 1001. be contributed
on behalf of this consplnv. Mearre.Thomas Powell, James
Poole, jun., and D. Bushell, retire an directors by rotation,
and are eligible for re-election.—WALTEß COFFIN, Chair-
man."

The report wee adopted unanimously, and the retiring
directors re-elected.

A vote of thanks was then given to the chairman, and
the proceedings terminated.

NORTHERN COUNTIES UNION RAILWAY.
The half-yearly meeting of this company was held
yesterday, at the London Tavern, Bishopegate-street.
JOSEPH MIDDLETON, Esq., took the chair.
The CHAIRMAN said they were then without a secretary,
and read the report, which stated that the directors regret
that they have been unable to carry out the views of the
shareholders in respect to the disposal of the interests of
the company. In the absence of so desirable an arrange-
ment the directors have taken those measures which they
deemed most expedient under the existing circumstances of
the company for reducing its liabilities within the narrowest
practical Uln.ae, with the view, in case no other arrange
meet should be made, to the winding-up of its affairs. The
directors are unanimously of opinion that it would be to the
interests of the shareholders to avoid taking any active
measures, but that the wisest and most prudent course
would be to hold themselves open to take advantage of any
opportunity which might offer for disposing of the interests
of this company, and in the meantime to carry on its affairs
on the economical basis above suggested. In furtherance
of the above policy the directors have come to the resolu-
tion to recommend that from July lest the remuneration
for all services In the secretary's department shall not ex-
ceed 1501. per annum, exclusive of stationery, postage, and
advertisements. Mr. Webb, though desirous of meeting
the directors as far as possible in reducing the expenses, had
declined to accept the office on the terms proposed.
The balance to the 30th of June showed that 227,1041.
had been received, and 208,0131. expended, including
27,6741. interest on calls, and 18,312/. returned to the share-
holders, leaving a balance of 19,0911.
The Casten...se advised the shareholders to arse to the
recommendations of the report for leaving the company's
affairs to the discretion of the directors, in hopes of the
project being eventually taken up by some company.
A SHAREHOLDER was happy to see the law charges for
the six months at only 391, and asked whether there was
any further charge likely to be incurred.
Mr. florae (a director) said there was a charge of 1,0001.,
but that ranged over a long period, namely, since 1846.
A long discussion here took place on the recommendation
of the report to reduce the secretary's salary to 1501., which
led to an amendment being proposed naming the amount
2001
. per annum, which was put to the vote, and adopted
by a large majority.
The report was then carried, and the meeting adjourned