The Express.
London, England, 1852-08-28 00:00:00

RAILWAY MEETINGS.

SOUTIL WALES.
The fifteenth half-yearly ordinary meeting of the
proprietors was held yesterday at the Great Western Rail-
way Station, Paddington, Mr. C. A. M. TALBOT. M.P., the
chairman of the company, presiding.
' The report stated that the revenue receipts during
the past half-year indicate a steady progress in the
troMe, as compared with the receipts for the corres-
ponding period of the preceding year. Reclusive of
the sum credited for the conveyance of mails, they amount,
during the 'Writhe ending 36th Jane, 1862, to 38U. par
mile—as compered with 2881. per mile during the corres-
ponding period of 1861. A sum of 10,0002. was assumed in
the statement of accounts for the half.year ending 81st
December, as a portion of a *lairs upon the port-Aloe
authorities not then finally awertained ; the arbitrator to
whom reference was made awarded about 11,8081.—a leaser
than wag expected thy the directors, but to which they
assented. They commies that they have now just cause to
complain, that after having performed en onerous and ex-
pensive service in the mintier required by the Postmaster-
Oatmeal for nearly two years, without receiving any remune-
ration for it, an intimation should have been conveyed to
them of the intention of the Post-office to question the
validity of the award. A eoutinuotui communica-
tion is now open from London to Swansea. By
the completion of this onnantuiestion, the lease of the
Biuth Wales Railway to the Great Western Company
comes into operation, and the rent of 30,600!. a year, paya-
ble under that lame in respect to the line between Orange
Court and Swansea, commenced en the 19th July last.
Upon the completion of the line to Carmarthen, that rent
will be increased to the sum of 88,5001. per an-
num.. The directors have well considered the pro-
piety of paying a dividend for the pest half-year out of the
funds usually applicable to that pupae, but the non-pay-
ment by the Post-office of the amount due to this company,
under the award made foe the conveyance of mails by the
umpire appointed, together with the intimation given that
it is the intention of the Postmaster-General to question the
lejal accuracy of that award, involving a sum of upwards of
1,,0001., has induced them to advice the proprietors not to
declare a dividend for the past half-year, but to reserve
their resources for a future 01:0116:111."

day[The
laat. ]counts appeared in the Express of Wednes-
The CHAIRMAN regretted that it had become his duty
to ask the preprieti rs' went to a report which did not re-
commend the payment of a dividend, sad he hoped that
this would be the last occasion on which he should have
to do so. There were several remiss whisk bad led the
directors to arrive at the conclusion not to propose a divi-
dend ; and, first of all, he must refer to the extraordinary
defa:cation of the Poet-office, for he could describe it by no
other term. They had agreed to submit to the decision of
an arbitrator ; and after one had been regularly appointed,
and had made his award, they had given notice of their in-
tention to dispute the legality of his decision.
A PROPRIETOR—Were the Post-oMee parties to the
appointment of the arbitrator ?

The CHAIRMAN.—They were. They agreed to hie
appointment, and after he had made hie award, they took
the step he (the chairman) had just described. He was
afraid that this conduct was systematic, for they treated
all the other companies in the same manner. He had been in-
formed that the Great Western had carried the mails gra-
tuitously for the list three years. and that the Poet-oflee
owed them 100,0001. (Hear, hear.) In their last report
the directors bad reckoned upon 10,0001. as due to them
from the Post-office ; but they thought now that it would
be better for the proprietors not to count upon anything
from that mares until they had actually re-
ceived it. Mr. Talbot, atter alluding to the salary of the
auditors, who only received 261. a year each for duties of
a very important and onerous mature, and recommending
that it be inereased, then concluded by moving the adoption
of the report.
After some discussion,
thereport was unanimously
adopted; and a resolution basing been agreed to, inane&
bag the salaries of the auditors to MI. each, thanks were
voted to the chairman, and the meeting broke up.

(HEAD, LANCASHIRE, AND
CILF.SHIRE JUNCTION.

is
the general half early inertia g of the
shareholders n this ocintriny wag held at the Monk's leen7
Hotel, Birkenhead; Mr. Alderman Brarcaorr, of Man
theater. president of the board of directors, in the chair.
Mi. Oisaox (the secretary) read the report of the direc-
tors for the past half-year.
The accounts having been previously circulated among
the shareholders, were taken as read.
The report reesimmended a illvieleast at the rate of l l per
amt. r saatim, gad relined ht dm various subjects which
had engaged the atlantic* of the &meters daring the peat
half-ymr.
Mears. Brown, Bryan', Cohn% awl Gibb, the directors
retiring by rotation, were recommeeded fee esodestiem
The CHAIRMAN, in vlaa Oa sisplima eine
had to refer, by way of imp la twit MO=
had given diaaatiafaetion to the shanheiders. The beard had
learnt, when too late, that proxies bed not been sent by the
secretary to the whole of the shanbeliees ; sad it appeared
from Mr. Giblets% Imnela thee he badi emitted all who
had not beta reamed by the beaken as having paid up
the last call ; so far, therefore, the miens, although wok
to be regretted, was Impartial at all event. The second
complaint writhe! the secretary had mat nodes to tie
occapaaies at Mohr that, in working the repaid new
trains, it was the Menden of this te eon& is..
the line the earriegss of other parties had bora seat
by the seentary, sod nailer a oloppeelesedea et the
anon the beard, sad wee wininws kosediately,
as in fact it won not a leSedes. The repeat alluded
to the associated empanel nosing nolo that it
wee handed to mils the between
then mai this effogemy; ea OM p=ablidellie remark
that at moat the maid WA llimeed Tay
for while the semeletal isea noted artite=o
lean of Cheater seas the Wombat' Ine, and for the
tgeMe south of Shrewsbury these esespodes axed the rate,,
yet i s the eareeptaing banyan, who this company
wenn the toile at their Otranto, the Iran receipts were 1
10,1961., out of which this compaq coned, as net profit,
4,6761. ; under the new aneageosed, the associated eon
plain working the; lia4ftheir ewe engines and at their
own run hem tad Iftearehary, obtained *gross
sada et 1101161.; the result whisk wee that at GO per
emu of the met onto this sommoy aft received SAW.
Thee, sat of fpletila neflod awasiderably mere
than eat of the 141111111, sad on mend the ether
cause of the mamas _ofdoeneanasNWbishedlvHede.
It was owing le his alas of gimp doe the oneelatad MM.
noise had remindWelk en melee nel enempssause mit be mien to is.
vise the adsting s. (Haar, bele.) A I
prepeakien bed km node to Wow 10 pee mat. he transit
wrier, sad 60 per esat. he eseanal perpesse, this company
laying it down itselanesa lima,tirs other 'spank. had no
let to make a e eines en snow or tenni-
ash, ahheon waneadded tore it Ile dte extent.
:g7 pent wen node oat eine teemitalk the dile:ewe
to be paid our to this compaay. With an eanage-
meat of this iseeripdon, the Cheshire Irwin Nona,
weld be prepared to go se modially with all other ere
palsies. He mirmained ten apt te eater rashly into
mythiag, for they odd nee arithku by delay ; peeled
wend be one, es& lei been node, bet tbeielit weld
art negldst rentleg to donde.
o He romonied that
sleet a emeaddee f sherabeiders, te ado
:a dm beard, and their opines trend be debris& to.
In eandmism, the chairman mil dos theposprietore wend
be Win again very early se a medal ateedeg,
sad he these ripener* mine preeipitate any deaden.
He mews dm minden of the report. (Chit,,.)
Mr. CALTSIIALL seceded the moths.
After onto dleemehn
Mr. HOLLAND rod assn the ase ofpse on this
onsims nod& be abstaiasi her oieegstref
Kr. MIDST= said he would is his day in secondingthe aseden.

The CIUIRMAN WI be anat rabies ditinetly to put 1 1
emirate oseehdisa the taeatiog.
/dr. 'LOLLARD— to
TM& adjeweo the qwesties use tbe
whale of the abooshaMaos lea tb:mepafzes it.
Naar Mbar an aad dr to
Ant a emeeletse a abewebablees was
Th. •I. tha meltable et the how.
over, asDet he& a prime ban Woe at eimpadilea. ego!
dally la ralweaso to teewales while the oematery bad
lto mad to mane eftbe shambeideea
etesd yeeeeedioge had aot terminated elm war report
was dspatched.