The Express.
London, England, 1855-02-16 00:00:00

THE EXPRESS, FRIDAY EVENRCG, FEBRUARY 16, 1855.

RAILWAY

GREAT WIieTERN.

The half-yearly general meeting of the Ghent
Western Railway Company was bald at War Paildisalsa

I station yesterday, at half-past ene. There was a enet;ied
aseseably ; indeed, mere seine than the seen wall

modals. The ebair was takes by Mr. Czarism RWaawas,

sew sad Z. Harper wen reappointed auditors, their snow-
men of 1001. bele, inereseid to 1601.
Mr. LLOYD DAVIIII Illswed, the number of directors
Wail am Imo twelve to eighteen, that the
sus el a
il.O SUhsslswel =nip. Mei. Woad of 1,2001.,
the emenwt bitherte allowed, in eseadderelies el their addi-
tional Mown with the new Haw
Tb holing of the emoting swim& to be spinet so
IMO ell leeleele, and at the suggetties of the CHAIMAN
ideeseithe Daewoo* of the oireetors wee Aired at 1,8001.
The Km 0. BOLL= brought forward the resolution be
bad emeetweed, which wee this :—"That this meeting
Wow with alarm the continued depreciation of the stock of
tbeweesiony, sad the redaction of the dividend from 8 to 3
per siss.. Omultansonely with the development of its traffic
end imente of mileage ; and that this meeting plwdges itself
ad to swells. any new line, the lease of any existing line,
W WWWW d espital, until the company is placed in a posi-
tion tom a dividend of 6 per cent." He esolained that
be wenn not oppose the einatios of the 1,326,0001. capital,
premed that day, but he protested against any future
4p:tensions.
Mr. LLOYD Davies disapproved of the first portion of
Mr. Butler's resolution, as likely to shake public confidence
in the company ; bet he world epee to the second portion, li
pledging the meeting not to sanction any new undertaking.
Mr. NORRIS argued that say such resolution would be
quite nugatory, as the proprietors at this meeting could not
bled tk!ir zoom...ors.

Mr. Avanv also contended against the resolution, u both
injudicious and impracticable.
The Rev. Mr. NICHOLSON and Mr. LITCUISORTH SSW-
rally expressed their disapproval of the resolution ; and, on
being put to the vote, it was negatived by some five to one.
The misdoing business of the panel meeting having
been dimmed of, a special meeting was formed, at which
reselations were passed, without discussion, authorising the
directors to raise additional capital. not exceeding
1,325,0001., in AIMS bearing Axed prefmnee dividends at
the rate of not more than 6 per cent. per annum. the cem-1
patty having power to redeem or pay of such stook after

- •
seven years. -
In proposing the last resolution, to Gonda& the agree-
ment with respect to the Cornwall kailway,
I The CUMMinn explained that the three companies
associated in that agreement—the Great Western, the
Bristol and Baster, and the South Devon—undertook to
work it, and the first claim upon Its receipts would be the
interest upon debentures, amounting to 18,7501. a year,
guaranteed by the three companies ; the seconddein:
would be for working expenses, and the profits above those
*sperms were to go to the proprietors of the Cornwall
Railway. The proportion in which the Great Western
Company became liable for interest en debenture and
working expenses was two-ninths, and there was no risk of
any lees thereupon. This company had already 70,0001.
embarked in the Cornwall line, and might obtain some
return for that sum, IS well as increased traffic to the assist

After mite dienualea the resolution was agreed to, aad
the special meeting adjeuraed till the lit of Much.

LONDON AND SOUTH WESTERN.

The half/early meeting of the proprietors took
place yesterday, at the oesmpany's new Oases, Waterloo-
bridge Station ; Mr. W. J. Caartax, M.P., in the chair.

The manatee et the het half-yearly meeting sad of
the adjourned meetings whisk ensued were teed and eon-
,
_ . . .

TheCIAIIIIIAN, hi a speech in which the MOM SLININdII•
view was tikes of the prospects of the company. moved the
adoption of the "sport of the directon, and this, after some
eoavereation, was unanimously agreed so.
The Moeda' resolutions, brought forward by lir. Ash-
more, were discussed, but ultimately withdrawn ;
That the shezeholden of the South Western Railway
Company have learnt with great largess that certain mem-
bers of the House of Commons have obstructed the second
reading of the bill now before the house, relating solely to
the internal :effain of the company ; on the ground that
the shareholders had refused to adopt a pledge reads by the
Hos. Francis Soon, M.P., late chairman of the oompany,
toe committee.

That the shareholders consider that their late chairman,
when he gave the pledge In question, ought to have stated
to the committee that the opinions of the shareholders were
greatly divided upon the subject, and that he could only
give the pledge required of him subject to the decision or
the shareholders at large, to be aseertained at a meeting
under the Wharneliffe order.
. _ _

"That the shareholders highly approve of the speech of
W. 3. Chaplin, Seq., M.P., their present chairman, on the
motion for the second reading of the bill in question, in
which he stated that the objections of the shareholders
against extensions had increased five-fold slam 1863.
" That the shareholders conceive it to be the duty of the
legislature to decide upon the merits of each bill per se, as
promoted to them, and that they ought to consider that
shmeholden an a fluctuating and ever-changing body, and
VIM It Is unlust to visit upon the proprietors of 1856 any
errors committed by those of 1863. (Hear, hear.)
INIPd "That this meeting considers that the conduct of those
members of parliament who aro trying to force upon this
company an enormously expensive line, against the opinion
of a great majority already doctored in the mode pointed
cut by the law, to be most unconstitutional ; and the share-
holders hereby express their firm determination to adhere
strictly to their mope:tendon policy, even at the risk of
having the bill now before parliament rejected."
A dividend at the rate of 6 per cent. was declared, and
the directors were authorised to pay the call of 21. 101. ov
He North Devon shares.
The CRAIIIIIAN observed, in reply to a Tootles, that

a capital of 437.0001 the Meth Deo& Osnignay was paying
• dividead of about 3 pee asst.
The retiring dkeetses (Mr. Chagas and K. Dalton)
were re-elected, as was des the retiring auditor, Mr. Close.
On the motion of Mr. ThiaLti the following amendment
was agreed to :—" That the whole matter be referred hack
to the directors, to glee their opinion to the shareholders,
and that the meeting be adjourned until Thursday, the let
of March, for that purpose."
A vote of thanks was dam given to the chairman, and the
meeting separated.