The Express.
London, England, 1852-02-10 00:00:00

NORTHAMPTON AND BANBURY RAILWAY

COMPANY.

Yestetday the half-yearly meeting of this company
was held at the Euston Hotel, H. B. MANGLES, Es 4.,
M.P., in the chair.—The Chairman having moved that the
seal of the company be affixed to the register of shareholders,
—Mr. &riven objected, on the ground that by so doing
they would commit themselves to the legality of the pro-
ceedings of the directors.—lt having been explained that
the affixing the seal was a mere ministerial act, a division
took place, when the motion was carried by 32 to 7.—The
Secretary then read the report, which stated that on the
3rd instant Mr. fkriven, who represented the landowners on
the line, and at whose instance the proceedings for closing
the affairs of the company had been suspended—had in-
formed the directors that " all attempts at a negotiation for
obtaining the line were at an end." All that now remained
therefore for the shareholders to consider was, whether
they would authorise the directors to take such measures
as might be best fitted to bring the affairs of the company
to an immediate termination in a manner most conducive to
the interests of the shareholders.—The Chairman having
moved the adoption of the report—Mr. Bcriven said that
Mr. °each and Mr. Watson having been appointed with
him to investigate the affairs of the company, he would call
upon them to address the meeting.—Mr. (leach having
declined to do so—Mr. Watson said that the
Secretary had, upon their application, shown them
some books of the company, but others he had peremptorily
refused to produce. It appeared that in 1846 a company
was formed entitled the Northampton, Banbury, and Chel-
tenham, upon which the balance of the deposits was re-
turned to the shareholders, with the option of changing
into the Northampton and Banbury Company, of the capi-
tal of which one-third was to be taken by the London and
North Western, and two-thirds offered to the public. The
public only took up 6,289 shares, as against 8,333 of the
London and North Western Company. Without, however,
appealing to the shareholders as to what should be done, a
parliamentary deed was prepared, which was signed only
by seven or eight London and North Western directors, and
the bill was obtained. Now, it appeared that the whole of
the assets of the company, including interest, was
310891. 9s. 10d., of which, deducting the expenditure,
there remained in hand a balance of 26,8491. Ific 2d. lle
concluded by moving the appointment of a committee to
investigate the whole affairs of the company from the com-
mencement, to see how far the shareholders were liable to
meet their portion of the expenditure.—A long discussion
took place, in which some of the shareholders contended
that as the London and North Western had gone to parlia-
ment in the name of their own directors, and without con-
sulting the shareholders, they ought to return the deposits in
full with interest, a position which was contended by Mr.
Geach and other proprietors to be unjust.—Mr. Watkig also
stated in the course of the discussion, that although no
committee had been regularly appointed by the proprietors,
he had given Mr. Striven and Mr. Watson every facility to
see the hooks of the company. It was only when lie found
Mr. Bcriven endeavouring to find out the !amount of holding
of his neighbours that the register of shareholders was
closed against him, and he (Mr. Watkin) had offered to
read the whole of the directors' minutes to Mr. &riven.—
Upon the question tiling put, the amendment was nega-
tived by a majority of 26 to 11, and the original motion
carried by 29 to 6.—Some conversation then took place
relative to the price of the shares, after which a vote of
thanks was given to the chairman, and the meeting
separated.

RAlLwAys.—Yesterday, a return was printed, from
which it appears that in the half year ended the 30th June,
1850, the receipts from all sources of traffic by railways in
the United Kingdom amounted to 6,047,290'. 188.41., and
in the half-year ended 30th June lw.t, 6,749,6211. 18s. 9,d.
From passengers in the first period the receipts were
3,010,3571. fis. 84d. ; and in the second period 3,349,5841. 6s.
The total number of passengers in the first half-year was
31.766,603; and in the second period, 37,881,7834. The re-
ceipts from goods, cattle, parcels, mails, olc., in the first
half-year were 3,016,9331. 12s. Md.; and in the second
half-year, 3,389,5861. 61. The length of railways open on
the 30th June, 1850, was 6,032 miles; aid on the 30th
June last, 6,696 miles.
SOUTH EASTERN RAlLWAT.—Traffic receipts for
the week ending Feb. 7, 1862: 9,7011. 7s. 6d. ; ditto
Feb. 8, 1861 ; 8,8601. 18e. 9d. Lamm. is 1869,
8411.95. 4d.