The Express.
London, England, 1852-08-27 00:00:00

BRISTOL A\l► EXETER.

Tho 32nd half-yearly meeting of this company
was held yesterday at Bristol, Mr. J. W. Buller in the chair.
IV J. B. anthem read the notice convening the meeting,
and the report of the directors, an abstract of which op-
petted in the Express.
The CHAIRMAN, in moving the adoption of the report,
slid it was quit, as satisfactory as any which had ever been
laid before this company. It showed, in the first instance,
an increase of 3,816!. on the traffic receipts, on increase
which was made, not only on the goods, hut also on the re-
ceipts froin pas engin ; and if there was a diminution under
the head of parcels, it was fully accounted for by the quantity
of ti,h received front the South Devon line basing been con-
siderably smaller then usual. The directors could state
confidently they were iu a position to reduce the whole of
the •-• and are per cent. and they only wished persons
holding such debentures would prevent them like hank-
notes to be paid off immediately in cash. That happy
change would relieve the company from heavy embarrass-
ments, and would be a source of constant and decided im-
provement. The directors had advanced 6,000/. to the Cre-
anon Company, as authorised by • resolution of the pro-
prietors, upon preference shares at 4 per cent., and he had
no doubt, if they were inclined to dispose of them, they
could eb:ain a considerable premium. lie hoped the
time would come when they would receive some interest on
the large number of original shares which they held in
the Crediton Company. In the course of next year most
probably the North Devon line from Crediton to its ter-
minus at Barnstaple would be opened, and it was impos-
sible to suppose • considerable increase would not take
place in the teethe on the Crediton line. The works on the
North Devon bee were making satisfactory progress in the
hands of contractors of large capital and great experience.
It was ninon tory to Ott that the directors of the Cornwall
Company had al, r2rmined to proceed in the construction of
that line. While greatly benefitting the South Devon
Company, in 'bah they had so large • stake, it would indi-
rectly benefit the Bristol and Easter line. The West CO/12•
wall Railway hail just been finished at a reasonable rate,
and was opened fur the public traffic yesterday. It ran
Olin Truro Truro to Penzance, and, when the Cornwall Railway
from Plymouth t s Truro was made, there would be • direct
broad gauge line complete from l'addington to Penzance,
to the greet advantage of this company and all connected
with it. With reference to the central scheme of the South
Western from Salisbury to Exeter, he said they had to de-
cide whether they would allow • narrow or a broad Image
line to come to Exeter. Exeter might appear to be the
terminus of their line, but it was the centre of their area of
traffic, and of the great. et importance, as the centre from
which the moat im,tirtant traffic to them was drawn. They
must entertain the question, whether they liked it or not,
and see from whom the attack was likely to be made. The
only temerity f.r the maintenance of • considerable portico
of their teethe was by making preparations egaiast the
attack with which they were new threatened.
The reort wet then received and adopted unanimously.
The CI! AIRMAN proposed &dividend at the rate of 21
per cent. for the lialf-year.
'I, his was carried unanimously.
Mr. CASTLE said a resolution was pasted at the last half-
yearly
meeting, which, in some meassre, tied the hands of 1
the shareholders in the election of directors. The resolution
lie alluded to was as follows:

That, with a view to promote the reiectien and appoint.
meet of suitable persons to be directors of this company,
and to give all duly qualified shareholders a fair and equal
opportunity for Caction' it is ordered that in any future
election of direct irs to be made at general meetings of the
proprietors the names of candidates intended to be proposed
for such election, whether retiring directors or o'hen, shall
be made known by notice in writing to the secretary 14
days previous to such general meeting, in order that the
same might be published by advertisement, which the di-
rectors are hereby required to insert in the usual newspapers
tea days at least before the intended election, and that no
person shall be deemed eligible, cr is elected a director
unless such notice shall be given in the manner aforesaid."
He Off. Castle) would move that the resolution be re-
winded. The meeting on that occasion was taken by sur-
prise. The resolution was brought forward by Mr. Norris
at thickset of the meeting, when more than two-thirds of
the shareholders had left the room. •
Dr. GREEN seconded the motion, and, after a good deal
of &reunion, in the course of which Mr. Norris, who had at
the previous meeting moved the resolution In question, ex-
plained that be had done no with the view of really giving
more power to the shareholders, it was put to the meeting,
and negatived by a lame majority.
The CHAIRMAN neat jproposed, s' That this meeting
approves of the resumption of the works on the Cornwall
Railway from Plymouth to Falmouth, and the conversion
of the 1,600 whole and 1,500 half-shares of this company in
that undertaking into 4,400 shares of '2Ol. each. This
would be an advantage to the company, as their liabilities
would be thereby reduced from 112,0(101. to 90,0001.—Car
lied unaaimously.
The CHAIRMAN then proposed, " That the directors
be authorised to make such prel.minary arrangements as
they may think necessary fur promoting in parliament • line
of nolvsay on the broad posse through the district of the
Wilts, Somerset, and Weymouth Railway and the Bristol
and Easter Railway, and to take all proper measures, sepa-
rately or in conjunction with other parties, to advance and
proems the line, and that such measures be reported at a
special general meeting of the proprietors, to be convened
for thet.purpose."
Mr. NORRIS seconded the motion, and enlarged as the
necessity of the directors being arused with sufficient
contend'atticss
vet) to
i.lthe
SVE SarilatteWilerdrnthCe"mPeanetri;g of the
South Western Company the other day, and his impression
was that the shareholders generally were decidedly opposed
to the measure it was only a few interested peeress who
were in favour of it.

The oe..!retsry of the company, Mr. J. B. BAIMIAM,
Leased to confirm what had fallen from Mr. Ingkaki&
The resolution was pat and serried.
The proceedings terminated in • Tote of thanks to the
directors and the chairman.

GREAT LUXEMBOURG RAILWAY.

Yesterday a special gcneral meeting of this corn-
eae, as. held at the Loudon T , for the purpose of
raising additional capital preparatory to the weary; In
Brussels.

Alflerril3ll S:it WM. MAGRAY, But. took the chair.
The SIICHTTART read the special report, a summary of
which appeared in the Express of Wednesday.
The CHAIRMAN said, before he asked them to sub.cribe
to the proposition in the report, he would make a few ob.
servationo, and would then be happy to sorrier aay ques-
tions that might be desired. This was the Are time the
beard had the satisfaction to meet the shareholder sad to
announce that the Great Luxembourg Company was aa se.
compliebed fact. They had met with many difficulties in
times past, but at the last meeting the &rectum had the
pleasure of rep rtiag that any further difficulties would
not transpire. Still ttey had to brirg forward • financial
measure, which might or not have been successful, for en-
abbag them to complete the line from Bewails to Namur.
The terms now sgreed to would make the calls fall easily
on the shareholders who embarked in the undertaking.
and the interest now secured to them he considered as sale
as that of any other railway company in this king-
dom or in .Europe. (lieu, hear.) It was ad-
mitted by all who knew the country that the
line from Brunel, to Namur would be a very lucrative
undertaking. In respect to the country beyond Namur,
the other countries being fully alive to the importance of
the Luxembourg line, had begun their work., which would
he finished by the time this line would require their assist-
ance. The Prussian governess ut had shown squid moiety
with the French to secure the advantages of the Great
Luxembourg line. The Louvain la Sambre line wu now
to be taken up by the Belgian people, which would bring
much additional traffic. In respeci to the proposition now
submitted to this special meeting, it would insure all the
capital nice.sary to be raised, and the 36,0001. allowed by
the Belgian government would be irrespective of the ex-
penditure, which would probably make it necessary only to
call up one-third of the capital. The directors thought the
interest they could off,r, with the 60,0001. " caution "
money, would enable them to raise any further
sum than he had mentioned at 4 per cent. These
circumstances he hoped would enable them to fiuish the
whole line long within the period allowed fir the execution
of the work.. The line from Namur to Minos would be
contreeted for, end the traffic, be Lad no doubt, would en-
sure 6 per cent.
A PRoPRISTOR asked how soon that branch would be
tontraeted for

The CHAIRMAN mid the surveys MUM made, and they
were now in a condition to contra, t at once. lle had ae
doubt that when 31. of the nee capital should be culled up
the remaindtr could be raised at 1 per met. (Hier.)
Mr. J. Maaeaseue, Jaya dinette), mmaidered tbe
averme armrest of the sew tal might be taken coder 6
pm seat. The Mao between ntweep end Breath yireed
sheet 7,0X1C s see, the lerseet immmat of say Ilse is the

world. The Great Luxembourg might he looked upon is
a coneinuatton of the Antwerp line, sad by the proposed
junction on the part of the Dutch government with the
Great Luxembourg line they would have the prospect of
another port, as well as Antwerp, namely, Rotterdam.
(Hear, hear.)
In answer to a Proprietor,
The CI4.IIIIIASIN said the capital required would be
60,000 shares of IN. each. Thri hoped to accomplish the
whole line in three years. The Austrian government was
equally alive to the Advantages of their line
Mr. III'ILIT moved the adoption of the report, which
was seconded by Mr. Flucota, and WAS pawed unani-
mously.
Mier a vote of thanks to the chairman the meetixg
ad-
juurned.