The Express.
London, England, 1855-02-22 00:00:00

LONDON AND BLACKWALL RAILWAY.

The half-yearly meeting of this company was held
on Tuesday et the London Tavern ; Mr. J.:l. DANIZLL ia
the chair.

The Sec zzzzzz read the report, an abstract of which
has appeared in the Doily Nem.
The CMAISMAN, in moving the adoption of the report,
said they were going on improving, but not at a rapid rate.
They had made preparations to accommodate any very
large amount of traffic that might come upon the line. They
were in negotiation with other companies for an accession
of traffic, and when the third line of rails was completed,
they would be able to accommodate an amount of trail: far
beyond what they could reasonably expect. The dime-
tors expected additional traffic from the opening of the
Victoria Dock, both in passengers and goods. Their policy
mac to open the gate to as much traffic as possible. The
traffic from the North London Railway had quite answered
their expectations. The Tilbury line bad also come up to
what they expected. They had been somewhat distils•
pointed in not having traffic from the Eastern Counties
Railway; but, as the latter paid them 2,5001. a year for the
station accommodation in Fenchnrch-street when they chose
to use it, they must have had some motive for not bringing
passengers to them. He had no doubt they would do se
when they could get additional traffic by coming over their
line to Fenchurch-street. They had as yet brought no trellis
from the Eastern Counties over their line. The Victoria
Dock would be open in the summer, and they hoped that
the Tilbury line would be opened nearly to Southend at
about the nesse time. It was satisfactory to notice the pre-
geese they had made sines they removed the fixed engine
and rope for working the line, and substituted the ordinary
mode of traction by mesas of locomotive power. The divi-
dend in 1860 was 2s. per share ; in 1851, ts. 61. per share ;
in 1852, 6s. per share; in 1853, 6s. 6d. per share; and in
1854, 7s. 9d. per share. This he thought was a satisfactory
result.

SMITH said the comparison was not correct, be-
i cause the circumstances were different. On alt former °eta-
'ions they paid the dividead clear of income-tax. Bet new
they proposed to deduct it. He viewed with great dis-
appointment the course adopted by the Hutern Counties
Company in not using their line and station at Fenchurch-
street.

The CHAIRMAN said, with regard to the income-tax, it
had been doubled, and might be quadrupled. They were
following the example of all other railway companies by
deducting it from the dividend. They could not expect the
Eastern Counties Company to bring traffic on the line unless
it suited that company to do so. They very much preferred
the residential traffic to the long traffic from that railway.
Resolutions were passed adopting the report and coconuts,
declaring a dividend of es. dd. per share for the put half-
year ; authorising the directors to raise 130,0001. on deben-
tures ; re-electing Mr. J. N. Daniell and Mr. Munaughten,
the retiring directors; and electing Mr. thintsbury an
auditor, in the room of the late Mr. Valpy.
The proceedings concluded with a vote of thanks to the
chairman and directors.