The Express.
London, England, 1852-08-28 00:00:00

NORFOLK.

The half-yearly meeting of the proprietors of this
company was held yesterday at their offices, Guildhall-
buildings; 8. M. Pato, Esq., M.P., in the chair.
The bkmairraur road the report as follows:
The statement of receipts and expenses arising out of
the working of your railway, as prepared by the Eastern
Counties Company, has also been circulated. It will be seen
that the traffic during the past half-year amounts to
66,9941. 3s. Id., which, on comparison with the correspond-
lag ;rind of 1861, shows as increase of 3,7161. 16s. 4d. The
working expenses charged are 33,1071. 14s. 10d. • equal to
about 68 per cent. upon the receipts. Your directors must
',press their regret that a course so unsatisfactory should
still be persevered in, as all parties are aware that the sum
so charged affords no criterion of the actual cost of working
the Norfolk hoes. The traffic continues to improve, and
the trade with the north of Europe throlgh Lowestoft is
making rapid advance. Three steamers, of 700 tone each,
are now employed in that trade, and it is in contempla-
tion to increase that number. Acting upon the
resolution passed at the last half-yearly meet-
ing, the directors caused • petition to be presented
against the bill for establishing a rival line of railway
between Norwich and Dereham, and they are happy to
state that the opposition proved successful, the bill having
been withdrawn by its promoter', after their case had been
opened before the committee of the House of Commons.
The directors also considered it their duty to riresent a peti-
tion against the bill for authorising an amalgamation be-
tween the Eastern Counties end East Anglian Companies;
and although they did not succeed in procuring the Mac-
Ron of the bill, a clause was inserted by the committee,
giving this company the option, for a period of twelve
months of requiring the Eastern Counties Company to
amalgainate with this company upon terms to be settled by
arbitration. This clause was intended by the committee to
be protective of the Interests of this company, but as the
acting upon it would involve the abrogation of the existing
agreement for amalgamation between the companies, your
directors will not think it right to take any step without
the moot mature deliberation, and they will avail them-
selves of the assistance of some of the largest proprietors
In determining the course which the company shall pursue.
The Emden Counties Company having declared a dividend
at the rate of 4s. per share on the shares of that company,
the proprietors of the consolidated stock of this company
will be entitled, in seeordance with the existing agreement,
to a dividend at the rate of 11. per cent. upon the half-
yew, and the proprieten of the new 201, shares to a divi-
dend of 3s. per share. A special general meeting. of the
proprietors will be held immediately after the business of
the ordinary general meeting is concluded, for the purpose
of considering, and, if approved of, confirming en agree-
ment for working the Halesworth and Secedes Railway. A
short abstract of this agreement has been circulated with
the accounts. This agreement involving no pecuniary out-
lay or responsibility upon the Norfolk Company, and the
branch in question king likely greatly to improve the
bulk upon their has, the directors have no hesitation in
recommending its adept* by the proprieten."
The Cuatnitex, is misdag the adoption of the report,
said he never met the prepeiseen sod this company during
the short time that belted esswided that chair with so much
satisfied* as Its did on the pm* omission. In the first
place, h• might aseseatelate IMa on the bill having
passed consolidating that mph* mg, as they were aware
by the recent special waft of *Se lades euthceind the
substitution of • 4 pa es*. pesanneo shaves Ihe the de-
bentures of this ecospay, • saving by that conversion
would take place of sliest 6,0001. a year, or equal to •
saving of one-half per gent. on the whole capital of the
company, thus lappets( the soften of the old share-
holders, and et the pas *as plaids( iss preferential share-
holder in • better piles by theta:gee amount of margin
affording him a some waist security. He was happy to
tell them that these sigmas Pro being taken to the extent
that t eyrellitell, end they might ecosidor this operatic"
Ihmedbee as Wag awl sensises. In the next place
be ad* Omen the Weedy inaresse of traffic.
He Praise to that they might on this occasion
mad* that, y, their capital mosent was closed.
The amass was then put and unanimously agreed to.
The Catmemer next moved that • dividend of one per
pat on the sweelidatsd stock for the half-year, and of
per ehen en the now 001. shares be declared, which
was elm semnimsuely speed to.
The msedag then rossived itself into • special meeting
foe the perm of madiseing an agreement for working
the Halsowselk and ississ Railway.
The flucarrene rend the sgrossasat as follows :
" Heads of propose' hawses the Norfolk Rail.
way Company and the lislrwwti, Bowles, and Haddis-
roe Railway Company, to be submitted for the approval of
the special general swam of proprietors, on the 27th
Ammd, 1862:—T two oempanies mutually agree with
each other-1. Thst the Rade* Ossapaiy shall allow to
the Haiesworth Pompey in looped of the additional
traffic brought me the Norfolk we Lowestoft Railways by
their branch, sae-third of the Anse earnings of all traffic
passing to or from the branch between Haddis-
coo and Norwich, ee heavies lissidissas and Yarmouth, or
between Headless and Lowed^ or any intermediate
places, subject to the &Autism msatbasd is clause 9.-2.
And one-fifth of the earnings alike tosMc parsing from or
to the Halesworth branch, to or frost any place on the
Norfolk Railway beyond Norwich.—q„ And one-third of
the dues at Lowestoft Harbour, for estee or goods, in di-
rect transit to or from the Halesworth branch, or in lieu
thereof, end at the option of the Norfolk Company, an ad-
ditional one-sixth of the earnings on the rail-
, way, so that in the latter case the Halesworth
Company shall be entitled to one-half of such earnings.
4. That the Norfolk Railway Company shill osi& loco-
motive power, station accommodation, and if required)
carriages, wagons, and trucks for the traffic brought to or
from the lialesworth branch (being paid for the same ac-
cording to the usual practice of railway companies), and
give all reasonable facilities for working the traffic.-6.
That the lialesworth Company shall be allowed to carry
traffic to the Norwich, Yarmouth, or Lowestoft markets,
and coal at all times from Lowestoft, with their own en-
gines and carriages, end receive the full fares for the traffic
or coal conveyed, paying to the Norfolk Company one-half
of the gross reed s& earned upon their line.-6. That ell
through rates shall be fixed and regulated by the Norfolk
Company. 7. That no terminal or station charges shrill be
made on the Norfolk orLowestoft Railway,on the lialesworth
teak, exceeding those charged on the Halesworth blanch.—

8. If required by the Halesworth Company, the Norfolk
Company shall work the Halesworth braneh in conjunction
with their own traffic, and provide engines, c►rriages, &c.,
being paid the actual cost of such working; the Hales-
worth Company maintaining their own railway.-9. An
account shall be made up of the receipts in respect of the
traffic to and from the Haddiscoe station in the year 1850,
and the difference between the amount and the amount of
the future traffic to aLd from the same station shall be made
good to the Norfolk Company, from the earnings to be
shared by the Halesworth Company.-10. Accounts to be
made up half•yesrly.-11. Each company to produce all
necessary documents for the verificatiom of the Recounts.-
12. The Norfolk Company shall have the option at any time
of purchasing the Helesworth breach for 150,0001., or a
rental of 6,0001. per annum, or such other considerations as
may be agreed upon.-13. All differences to be settled by
arbitration.-14. The agreement to continue for the term
of 99 years."
The ClLallitla.N, after a few observations, moved that the
agreement be confirmed.
In answer to several questions from Mr. M'Lsren,
The Cuslisnas said the capital for the proposed branch
was put down at 150,0001., which, however, was more than
they anticipated would be required. The distance was
about 16 miles, and he thought that something like 6,0001.
per mile, including land, was all that the line would cost.
This company would have the option of leasing the line or
of purchasing it; the maximum sum to he paid, in case of
lea..ing, would be 6,000/. per annum, and in ca,.e of pur-
chasing the maximum price would be 150,0001. It was
possible that he might be employed to construct the line,
but that was not a matter in which this company was con-
cerned.

iii.illassurt• said he considered the terms tivourable,
and after the lucid explena•ions of the chairman thi y c•-ruld
not hesitate in confirming the agreement.
The motion was then unanimously agreed to, and after a
vote of thanks to the chairman and directors the meeting
separate&