The Express.
London, England, 1852-07-17 00:00:00

NORTH STAFFORDSHIRE RAILWAY.

The half-yearly meeting of the shareholders in this
undertaking was held yesterday at the railway station.
J. t.. Riesnoo, Esq., M.P., the chairman of the Board of
Directors, presided ; with two exceptions, all the members
the hoard were, punt.
The SIMI sae (Mr. Ramada) read the following "re-
port of the diremes:—
It was enplaned by the directors at the epeeist meet-
ing had ea the loth April, that it was absolutely necessary
that measetres should be tau fee the purpose of developing
=iresume of the Ilse, and obtaining an independent
n the through male, which wee obstructed by the
Waal adtAlted by the Load= and North Wasters Com-
paqy. shareholders, after bearingthe statement
of the drenmetanses under which the line was placed,
mlnetimild two bilh for extensions north and south, har-
t:kg for 60. e;6 :Mfets. the arriving at such a position as would
•••"". M the North Staffordsture Railway its 1- of
t rough trei!: Lu plum tala MOIR-
Madatien contemplated by the promoters of the Vas. tibia
•besined for it the saaniss of parliament. These bele
wen brought into 'igraad were real a emend time
he the Hesse of emended named te a selset IMP
▪ '
beenAt thls jay/item . Illepbmaam, bite when
bed laid the velmaiseee serrespeadents. ant dr
weber desumenis bathsg reference to the trameedees be-
tween the two sempsnise, interfered with a assss=
venting as explosive litigation and parliamentary e
and making such an ansagement and adjustment of dams
between the two companies as would secure their animble
co-operation, work te their mutual advantage, and rube
their future relations equitable and definitive, sod
agreed, is evaluates with Mr. Hope, to weep
the office of manatee for the two ninpeniss.
The following resolution was accordingly paned by the is
'pectin boards'Red—letter dated 24th April Iles
Mt. C. B. Stewart te Mr. Robert Stephenson read else
letter dated 26th Aped ben the chairmen to Mr. Stephen-
son, by which demands it is pulsed to leave to its. He-
bert Huntsman sad Kr. James Hebert Hope the settle-
ment of all gaieties' in dillesesse beings tit; Landes sad
North Western, and the Nadi ththbedaire Whey Oar
panics, so as to effect a compiete mien of laterens. Pm-
solved —That the letter of the thine= be approved. end
that the matter be referred cesseelingly to the looleles of
Mr. Stephenson and Mr. Hem sit that the seams
seal be attached to this teseadess.' Usher One
circumstances the bills sonethreed by the share-
holders were, at the mitres& of the arbitsaeoe. via-
drawn ; all efforts taken lor the pawn of woradre die
proper through truffle, and the jest mast sad didelbsties
of the local tragic suspended; and the arbitrathen before
the recorder on the varilus mitten in dispute, is te
the existing agreement, was left is abeyance. The dGeMeaa
had hoped that the result of this new reference esalik, at
this bait yearly meeticut, be laid before their
but the enormous amount of parliamentary =Fi.u•.
sparing the sttention of Mr. lkpe, and the esq
taent
limolutio• of parliament, have rendered it inptoeiMs Itte
the arbitrators to give the sieemary attention to a matter of
mach vast importance. So soon as their dodgiest shall
have been declared, the proprietors shall be imme-
diately called together, and it Will be laid beim
them without reserve. In the asestbas the ee.
Option of the directors has been neceawily naiad
to the local traffic, which presents a sellatetory mark
The revenue accounts for the half-year, diet Mane of
dividend on canal shares, and interest on Imes Minn • set
balance of 211.5721.. n. 2d., which enables the dinellite le
recommend a dividend on the ordinary &Neel of bp=
re sha. The directors refer with satisfaction M the
of their debenture debt, the rate of Mime. wen whisk
they are gradually reducing, as the annexed sealemest
show. la the present month of July, and is lethery asst.
a further sum of 15,0004. of Five per Cent. email M
paid cif or renewed at lower rates, and to mph** pdthemn
this month they have borrowed at 31 3 per cent. Nati-
mouse the permanent loan capital at 1,000,0001., they ass-
cider 33,01101., or 31 per sent., will be an ample sum buret
the yearly interest when the debenture' at the miss
of interest shall have fallen in. Auden ad-
mitting of considerable economy is futon nettene,
meet is that for maintenance of way, which,
under existing circunistances, is not put apse such
a footing aa would be most advantageous to the sumpany.
The rolling stork in the hands of the eontratioe is the eras
precisely as stated in last report, and the esetpeny have
ample security fur its being maintainedia the most efficient
state of repair and working order, a media= in the con-
tract which must not be lost sight 64 mbas smaidering the
charge of 13,2151. Is. Sd. for workbag the trust for the
half-year. Thus the full salmi of the sash is always main-
tained. The Ashbourne lino was prow es the 31st May.
This important branch cannot tail awn a valuable feeder
to the main lines. Every exertion Is being made for the
accommodation of the large miasma nein which will be
brought on this line as the sewn amireasbes. The branch
to Newcastle and to the works at Silverdale sad Apcdale,
is so far completed as to admit of the purge of mineral
trains, and will be ready for passenger teak at the end of
the present month. The facilities thus afforded to the ex-
tensive coal and iron mines will induce accession of italic
on the railway, and confer important advantages to the
trade and manufactures of the whole of North Staffordshire."

The statement of savants showed that the railway re- ,
ceips for the half. year :mount to 66,4851. 81. 6d., and the
working expenses, ac., 38,2701. Os. 3d., leaving a sum of
28,3151. 84. 3d. to be carried to general revenue. During
the same time the canal reeeiptatiave been 88,4111. 11s. Id., ,
and the working expen-es 23.3831. 18s. sd, leaving • Wane;
to general revenue of 34,3171. 125. 11d. The increase in
the number of passengers conveyed over the line to June
30, compared with the curesponding half in last year has
been 19,403; and under the head "goods and minerals,"
the increase in the same time has been 17,284 tons. The
estimated receipts from the London and North Western
Company for the Manchester traffic for the half-year is
8,1321. 10s. 2d.
The ennlll,llAN in moving the adoption of the report,
said, it was impossible, gentlemen, that the report of the
directors sad the statement of the half-yearly accounts
could under the circumstances be issued before the meet-
ing, as is usual with this company, and now that you have
heard it read 1 have simply to move that it be adopted,
printed, and circulated amongst the shareholders. The
thin attendance of shareholders I take as a pruof that the
proprietors think with us that in the peculiar position in
which the line is placed at this moment it would be impru-
dent to enter into any detaile—in fa* that they would be
much better avoided. (Hear.) We are now before the
arbitrator' endeavouring to show, as well as we can, the
value of our line, and in my epinion any shareholder would
exercise a very unni-e discretion if he attempted to depre-
ciate it. I have, therefore, to ask for en (*tension of that
indulgence which has been so fully extended to the baud,
and 1 do so with the more coulidence because I think the
prospects of our line are much better than they
ever were before. (Hear.) I hope that before very
long we shall have arrived at so satisfactory a result ss
to be able to make some statement to our shareholders ; for
that reason it appears to me that it would be much better
for the shareholders if they let us off on this occasion ; that
it will be much more to their advantage if they abstain as
much as possible from any discussion. (Hear, hear.) Mind
you, lam ready to amwer any questions. I have simply
stated to you my own opinion as to the policy of a discus-
sion. Ido think it right to state—l should say with re-
ference to the notice in our advertisement convening this
meeting, which sets forth that we propose to adjouru it—
that we have lime that notice appeared more fully con-
sidered the matter, and have arrived at the conclusion that
it will be attended with some inconvenience simply to
adjourn the meeting, inasmuch at it will not give share-
holders who are unable to attend a fair opportunity of ex-
pressing their opinion on the merits of any proposition
which may hereafter be submitted for their approbation—
(bear) ;—besides, if we adjourn to a particular day, and the
arbitration is not terminated, another adjournment
will be necessary; or if the matter is settled earlier
than the day to which we askjourn, there would
be uaneeeuary delay in comanaiesting to the proprietors
the result, therefore I think it neeereary that our next
meeting should be a special meeting. I shall simply move
a resolution that the accounts be passed with the rem* is
order that the dividend may be paid; then I shall in mem-
dance with the moth* move an adjournment, and perhaps
some shareholder will move an amendment to the effect
that the next meeting he made special. The hon. gentle-
man then submitted the formal motion mad on such mem
Mona

Mr. BIODRICK, the deputy-chairman, esoonded it, &edit
Was carried unanimously.
The retiring directors wen re-elected, and a motion for
the payment of a dividt nd of 3s. per share ow awl after the
20th of August woo also carried unanimously.
The CII4IIIAIAM neat :nosed an adjournment of Ur meet-
lag "till suds time so the decision of the arbitraton ow the
future relations of the North Staffordshire and Loodee and
North Western Company tun be reported to the share-
holden': _ _ _

Mr. HSTWOOD, of Browabills, moved as an ameadairst,
in asmodeace with the chairman's suggestion, that the
nesting for the same purpose !mnads special.
Iff. WARD, Of Blush m, seconded the amendment.
Mr. HITWOOD suggested that, prior to the day of the
meeting, the shareholders should be put in possession of
the terms to be sisbenitted to them, so that they may be en-
abled to seaside, whether they will amid or dissent.
The VRAlRMAN—Certainly. As won OS the matter is
settled, which must be before long, it will beeps* known.
The London and North Western Compaq y are equally late-
rested with ourselves in getting an early decision ; and the
shareholders shall have immediate information in the sir-
War calling the meeting.
The amendment was carried unanimously, and this ter-
minated the bus DCA of the half-yearly meeting.

Tux LORD Mutual. Aug AND Ikdoz.—Yes-
terdey a meat*, maasete, dramatis men, La
gam tate/treed I. tits pramakaspamiall=lirs of rhod
stage, war bald et tit• Opera Hod, listregreeL Amongst
Uwe mew woos—Mr. E. T. SW* Mr. R. Thorne, Mr.
Maaapess Townsend, Mr. M. M. Mr. H. Framer, Mr.
B. Pester, Mc Dose% Mr. Card, Mr. H. I. Tamer, Mr.
T. Matthews, &a , &e. Mr. Z. T. Yaw of the
Maryteteme Meagre, havias been said to the Ask. maid
that he eameMorea the maws satiastary payer With
'by the Logi Maulteallark Os lotimllidaa et
&iamb reggeamatikaa, as mere windier acrd or
atbarylo, pregard me* mho* ea the
et the beer* isaistalig. 14. Smith dm pesseehei te
sow ens the dote& et milk temeestiess betas. the
Chmelialehee Mee sad Wave theatre, fa *fish Me
eeetssimi the Woe faitmiddy beet hasdadess
were ealmeiperey Maw lemohb.,
the eft am the mai=
7. L Bete gaIIOMIK of all
tertio beam otleileemat Odra Whig hes voted
jgCoggib, as ass*. aillviasi

t 1.