The Express.
London, England, 1852-07-31 00:00:00

MA/.TON AND DRIFFIELD RAILWAY,

The half yearly' meeting of the ahareholilers in
thh was held at Melton on 'Thursday last. The
sari of i• silo! occupied the chnir. The report of the di-
gators wee read, and it 6.444 that the amount of the de-
beaten debt is now 56,7761., which the directors are still
gradusily increaaitg to meet the expenditure upon the
weeks. The claims against the company have been 'n-
asally reduced, and coal. now within a narrow compass.
The balance doe to the contractor for the old contract heal
been paid, and upon the present contract there is deo the
sum of 3,4171. of retention money, and &sating hills of the
Company for w3rk done amounting to about 3,2331. The
works of the tunnel are pushed forward with the utmost
vigour, and the whole will be completed, if
no unforeseen circumstences occur, at the north
end by the and of the present quarter. The works of the
Think and Melton bra ich ore also carried on with the ut-
most activity, t',e pe.minent way is laid for about fifte n
ailee,*and it is confidently anticipated that the whole branch
will be completed by the end of the veer, and that a simul-
taneous opening will be accomplished irons Thirsts to Reif-
ield. An instalment of 3,0001. from the subscription con-
tract, towards the construction of the Think and Halton
branch, has Inca paid to the contractors on amount of the
maim already executed, and the York, Newcastle, and
Merwiek Compsuy hove paid nearly the whole of their
Clion of the total coat, so that the works now exerut-
tPaTe. charged to the account of the Mallon and Drifileld
Company with interest at use per cent. After ;referring to
the forfeiture of allow 4,000 shores, the report went on to
my that to order to raise 60,0001., the amount of
capital thus cancelled. toe directors propose to issue
B,WO sharer, to be denominated the " Think sod
Melton Subscription Shares,— of 41. each, representing
a capital of 32.010/., upon which ,the directors gave every
reason to think that a return of at least 5 per cent. must be
realised, and that 9,000 shares, to he cared the " Molten
and Driield New Shares," of 61 each, representing a
capital of 48.000!., at a preference interest of 6 per cent.,
be steered out of the dividends of the Milton and
DriMeld Railway. These two denominations of shams the
directors propose shall be allotted conjointly, one of each to
each of the original 8,000 shores paid up, remaining on the
register of the Milton and Driffiild Company ; and they
will have to le accepted or rejected by the shareholders
together. The :alb co there shares are not to carted I/.
pet abate per annum, and the directors anticipate that great
advantages will arise to the company from this arrange-
men'. Along will the report the directors presented an
ohs, riet of the recri:4* and payments up to the 30th June
last• which showed a balance to be due to the hankers of
1„151/. Ills., and of *2o'. Ts. fid. to the secretary. The adop-
tion of the report having been moved by the chairman,
several questions were asked and satisfactorily answered,
after which the report was adopted, nud a vote of thanks to
the noble chairman and to the board of directors concluded
the business.

RAILWAY TRAFFIC DURECI IRE PAST WEEK.

WIN arena

Nue of Railway.

1162.