The Express.
London, England, 1852-02-25 00:00:00

RAILWAY MEETINGS.

OXFORD, WORCESTER, AND WOLVER-

HAVTON RAILWAY.

Yesterday, the half-early-
meeting of the share-
holders took place at the London Tavern, Biahopegate-
Street ; Capt. It etillOUT, M.P., in the chair.
The CHAIRMAN said it was his duty to say a few words
as to the present and future state of their railway. With
regard to its present state, the balance-sheet showed that
during the half.ecar ending Dec. 31, 1141, there was ex-
pended 29'2,3.1,5& 6i. Id., making the total expenditure
2,112,0801. Vie. Id. The works were going on satisfactorily,
involving altogether an expenditure of about 50,0001. a
month; and when the extra wen to from Tipton to
Wolverhampton were proceeded with, the monthly expendi-
ture would amount to about 7.5,0001. The line trout Droit-
with, by Worcester, to Abbot's Wood, fourteen miles, was
already opened ; from Evesham (south) to Abbot's Wood,
and from Droitwich to Stourbridge, in March;
from Stuurbridge to Tipton in October ; from
live chain to Wolverhampton in December. In speaking
of the future prospects of the concern ho must remind
them of what had t.,ken place during the last few menthe.
It would be recollected that at a meeting held on the 27th
of August, a resolution was ;Noised to the effect that the
terms of the Great Western Railway Company should be
, accepted, provided that company would guarantee 3 per
cent. to them at the expiration of four years, and not other-
wise. To that arrangement the Great Western Company
refused to accede. The chairman of the Great Western
Company had estimated that their profits would be equal
to 3 per cent. per annum, but when asked to guarantee that
sum, the company refused to do so, but said they would
agree to the appointment of a traffic committee and a sworn
accountant. 'l' here the matter ended. On the 28th of
October, the Oxford, Worcester, and Wolverhampton
Company appointed • committee of shareholders to
communicate with the directors, and the report of
that committee was then in the hands of the
proprietors. Such was the state of their affairs at that mo-
ment. Three courses had been open I. them. One was to
form an alliance with the narrow gauge interest—the Lon
don and North Western Company ; the second was to form
an alliance with the Great Western interest; the third—
' and this course was that which the directors considered the
hest—was that of forming an independent line. An al-
liance with the narrow gauge interest was liable chiefly to
the objections of distance; an alliance with the Great
Western Company on the terms proposed, they had re-
fused. There remained, therefore, to be considered only
the propriety of their constituting an independent line. The
tors direc had therefore prepared a bill, which was called'
" No. 3 Bill," and, though the progress of the affair might
be attended with considerable trouble, they thought the
course proposed was that which would ultimately be at-
tended with the greatest advantage to the company. Se-
veral bills had been prepared, but some of them might in
the end be dropped if the others were passed. That to
which he chiefly wished to direct attention was,
the bill for making a line from Oxford to Brentford. (The
hon. gentleman here referred to a map, and then con.
tinued)—lt must be obvious to every one present that this
was by far the shortest route to London. He believed it
was shorter than the other route by ten miles, added to
which was the fact, that traffic would come from the nor-
thern districts at once, without any change of carriages, up
to the Vauxhall terminus, belonging to the South-Western
Company. By this means they would be enabled to carry
to London, with advantage, the heavy goads of the iron dis-
tricts—a branch of traffic which, he Wined, was now
actually refused by the North-Western Oseepanys bassuse
they had so mach other trains an their bends ; and at the
same time this route would he tin met tenvenioet, as re-
spected many places, for pramere truffle. This land-
owners generally—the large Miedmitiers almost universally
—were avowable to the sobams, end petitions were pre-
sented 'my_ day from almost gong town on the route, as
well bon isa Imo betwass Oxford and Wolverhamp-
ton se AMR Ibsen between Oxford and Brentford.
The int wadi pain through Theme, Wycombe,
Uxbridge. sod Meessesisld, to Lowden. 'flia question
arose kn. mine dm feeds a be obtained for this under-
taking? abetwarbee.nsHnJ,tbeairengeat part of their
ease. The oaatwartar's tender anestantod only to 870,0001. ;
of which snateentillk6oo4. was already subscribed for, and
63,6401. wail, paid into the Court of Chancery.
would now move that the report of the directors and of the
committee of shatehulden be received and adopted. (Both
these reports were taken as read.)
Mr. THOMAS, a director, seconded the motion.
After some discussion the report was adopted.
The retiring directors were re-elected. Mr. G. Cohen
was elected auditor.
Mr. MOWATT proposed, and Mr. USIELLI seconded, the
following resolution :
" That this meeting, having had under consideration the
project for me:tension of the Oxford , Worcestc r, and Wolver-
hampton Railway by means of the proposed Oxford and Brent-
ford Extension Railway, and also in the scheme set forth in
the report for distributing and apportioning the capital of
8000001. required for that undertaking, do cordially and
entirely approve of the twee, and they authorise the direc-
tors to take all such inseams OS they may think At for car-
rying into effect the permission accorded by the sulneribers
of that capital, and offer the shares in the first Matinee to
the proprietors of old shares in this company."
Mr. PETO, M.P., said he had examined the whole of
the estimates for the new line, and had no hesitation in my-
ths that contracts might be entered into within the amount
which had been given by the directors. The only doubts
which he felt had reference to the Med. Hs believed,
however, that the line might be completed for 30,0004 leas
than the amount which had been stated, and would be
happy to 'entreat for the whole at once if they would give
him the benefit of that margin.
The resolution was then adopted.
Other residences in secordarthe with the report were also
agreed to ; and, after giving a veto of thanks to the chair-
man, the meeting separated.

EAST AND WEST INDIA DOCKS AND
'BIRMINGHAM JUNCTION RAILWAY.
The ordinary half-yearly meeting of proprietors
was held yesterday, at the Euston.square terminus, Mr.
Bcorr in the chair. Alter the usual preliminaries, Mr.
Chubb, the secretary of the company, read the report, which
Chu already appeared in the Express.
It appeared from the statement of the accounts, that the
groom capital of the company amounts to 1,036,6661., of
which 966,9631. had been realised, and the remainder,
69,7021. Pb., was available on the 31. t Deormber, 1861.
The half-yearly revenue account showed receipts to the
amount of 30,2411. 19a., and as expenditure of 17,6171.75. 7d.,
leaving a balance of 12,6241. Ils. 6d.
The CHAIRMAN congratulated the proprieton on the
satisfactory termination of the works connected with the
original undertaking, leaving 170,0001. of surplus property.
The oast fell short of the original estimate of 100,0001. per
mile. 100,0001. might seem a large sum for a railway to'
cost ; but when they considered the important and valua-
ble property through which it vent, the many difficulties
they had to contend with, and compared their expenditure
with that of other metropolitan lines, it would be found that
it was by no means a very large outlay. The exportation the
Bbtekwall Railway were 266,0001. a mile, and the Omen-
tried Railway cost 270,0001. ; so that their lino would bear
a favourable comparison with these. The additional works
which they were constructing, viz., the junction with the
Blackwell Railway, the cal sidings fur facilitating the
goods traffic, were in an active state of preparation. They
had received an intimation from the Great Northern Com-
pany to allow them to exercise the right of coming on their
line. 'The directors would give the subject their considera-
tion, and this, when carried into effect, would be a source
of additional traffic which they might look to. The re-
venue 11000U11% for the half year showed a balance of
12,624!., whisk gave 2 per cent. on the capital stock of the
oompany, pattlag aside the prehrence slum of the deben-