The Express.
London, England, 1852-08-30 00:00:00

CORNWALL RAILWAY.

The thirteenth half-yearly meeting of the share-
holders in this company was held in the Council Chamber,
Truro. on Saturday last.
Shortly after one o'clock the chair was taken by MICHAS!.
WILLIAM., Esq., the able chairman of t►e board of
directors.

The advertisement calling the meeting having been read,
nd the seal affixed to the register of shareholders,
The SECRETARY (Mr. Bond) read the report, which
stated the forfeiture of 9,328 shares, arising front insolvency
and other causes Also, that the appeal made to the
country for support had resulted " in an extensive and laths-
factory list of shareholder +;" end consequently authorised
the directors to proceed with the line u rapidly as possible.
Many landowners had consented to take the value of the
land through which the line would pass in shares. The
contract of the line from Triro to St. Austell had been
taken by Nicest'. Sharpe and Sons, at prices which were
very satisfactory, and within the estimate of the engineer.
The bridge at Saltash would also he proceeded with imme-
diately. The report further stated that the whole of the
lint from Falmouth to PI mouth would probably be com-
pleted for a sum under 7N,0001.

The CHAIRMAN having moved that the report jut read
be received and adopted.
A lengthened discussion then ensued u to the time when
the line should be proceeded with from Truro to Falmouth.
Several shareholders from the latter place represented the
feeling of the inhabitants of Falmouth as being very strong
in favour of that portion of the line being proceeded with
at once, and before the more eastern portions, as it would
give the various steam companies to perceive that Falmouth
would offer inducements for them to bring their vessels to
that port, and would encourage the inhabitants to take
shares in the company and a greater degree of interest
generally in the line.
The CHA 11/MAN, in reply, said that that portion of the
line should have the best attention of the directors, but he
could not pledge himself as to what time that portion of the
line would be commenced one thing he wou:cl assure
them, that it should be done as early as possible, consistent
with the interests of the company.
G. M. Twertiv, Esq., vice-chairman, said their object
was to proceed with the heaviest work first, and the portion
of the lino referred to certainly was of that description.
There was no object whatever in its being delayed unne-
cessarily.
The report of the directors was then unanimously received
and adopted, an was also a reinhoiou declaring the forfei-
ture of the before-mentioned .hare.

The appointment of Mr. Bond as secretary (a gentlemen
of extensive knowledge in railwi.y uffair,), was confirmed.
PPAICSE, of Penesnce, suggi sted that the three-
Pm should he pail for their service e, but this the chairman
objected to until the line was completed, as they were not
then in a position to do an.
A vote of thanks was then unanimously passed to tho
directors for their services, which being suitably acknow.
hiked
Mr. 'PAUL WILLIAMS moved a vote of confidence in the
director*, which he considered called for, owing to the ob-
servations made in reference to the Falmouth portion of the
line, which certainly at one time was likely to lead to angry
feeling.
This resolution also having been unanimously achpted
the meeting separated.

GLOUCESTER AND DEAN FOREST
RAILWAY.

The half-yearly meeting of the shareholders in
this company wet held at Gloucester on Saturday afternoon,
S. BA Kea, h.q., in the chair.
The Szenereur (Mr. Nash) read tho report of tho
directors, which stated that the works were nearly com-
pleted, that the whole of the share capital had been called
up, and but little remained unpaid. The stations and
buildines at Gloucester would slp rtly be completed; but,
in consequence of the breaking down of the works of the
Gloucester and Berkeley Canal, the branch line to the darks
had been longer in hand than had been nnticipa.ed. When
the share capital of the company was expended, any further
capital which might be required would be provided by the
Great Western Company. The report went on to suggest
that (the works being teemed to the Great Western Com-
psny) the duties of the directors and secretary would be-
come leas onerous, nod the directors, therefore, recommeneed
that the salaries should be reduced to a moderate scale.
They believed that they could make arrangems rye with the
Great West. rn Company fur the practical conduct of the
ordinary busim is of the company after the 31st December
next. The rest of the report ref reed to the position of the
Hereford, !toes, end Gloucester Railway, which would be
an important feeder to this line when completed. Ihe work
was reported as being prosecuted with energy by the eon-
tractors, Messrs. Peto, Betts, and Brater,,. The first six
miles from the Grange Junction toward. Russ were ex-
pected to be completed in a few months. There were tun-
nels and ether heavy work on the remainder of the line,
which would retard the opening throughout to Hereford
probably for another year. Until that line was ready to
open to Hereford the GI mcrater end Dean Forest share-
holders would receive from the Great Western Company,
in compliance with the lease to them, • divi-
dend of 1! per cent. per annum, and after-
wards they would be entitled to hi per cent. Both three
router, however, would be eubject to diminution by the ex •
pence of management, and also for • time from lose of in-
terest on the paid-up share subscription to the capital of the
Hereford, Boss, and Gloucester Railway Company. The
directors, however, anticipated with conetlenee that when
the Hereford, Roes, and Gloucester line had developed its
traffic it would be found to be • remunerative line, and not
likely to entail any lots to the company in respect to the
2.s.oM.suliecribed to its bands.
•

The t'itAiiotaN brieflyatidressed the shareholders, re-
capitulating the chief features of the report, and suggesting
with regard to the aalariea of the directors and secretary
that the former should be reduced to 4401. per abium, and
the latter to 100!.

Mr. J. M. STUROE having put some questions of no mo-
ment, slid made some remarks in reference to the dock
branch, the report was adopted, and Messrs. Walker and
Robinson, re tiring directors, were re•eleeted. Mr. C.
King, who had lately been elected in the place of Mr. S.
Baker (elected to the Great Western board) was also re-
elected.

The usual thanlut to the chairman closed the basicest of
the mectiag.

LYNVI VALLEY RAILWAY.

The half-yearly general meeting of this company
wes held at the Prince of Wales Hotel, Paddington, on
Saturday ; Sir ltnexiir Pince in the chair.
The report, as read by the secretary, and adopted, stated
that there was an increase in the receipts of 2001. over the
receipts of the corresponding half of last year, and that as
the reduction in the tollage rates only took place from
August last an increase of 12 per cent. might be calculated
—a result which would no doubt be regarded as satisfac-
tory. The payments for maintenance and management
amounted to 1,067/., and showed a saving of 15 per cent. as
compared with the expenses of the last half-year ; but that
had been absorbed in the additional charge for
interest acid expenses incurred in consequence of
the liquidation and renewal of debentures ; the
money required for that purpose being secured as oppor-
tunity offered. A portion of the money, however, had been
obtained at a lower rate of interest (vie., 41 per cent.), the
advantage of which would be derived by the proprietors
hereafter. la the general revenue account there was a
balance of 1,484., and it was recommended that a dividend
of 4 per cent. per annum be declared on the capital account.
The report further stated, that in obedience to the resolu-
tions passed at the lest meeting, the directors had made
inquiries in reference to the adoption.of the line to locomo-
tive traffic ; and having paid the greatest attention to the
subject, they bad to state that further investigations would
be made, and that the result would be laid before the pro-
prietors at a special meeting.
After some slight discussion, resolutions in conformity
with the report, and declaring the dividend recommended,
were agreed to.