The Express.
London, England, 1851-01-30 00:00:00

WINDING-UP OF JOINT STOCH COMPANIES

UNIVENSAL SALVAGE COMPANY.— Testanky Mr.
linnet, the official rnanagent, with Marrs. Pry and Holt. his
solicitors, attended Whirs his Hamm Master Fearer, with
reference to the final settlement/3f the list of contributories,
which bed been completed with the exception of two names,
those of Captain Norcott end Captain PRIM. After ate-
iideralile dimwitted', his Hoaeur decided upon placing Cant.
Morcott on the list for five more aims in addition to 46
Me which he was already say cokes to be given to that
gentleman to show cause within • week. Captain Prim,
late of the Abbey-road, and who wee stated to have been a
Itenkrupt, and now abroad, was also placed upon the list in
respect of 31 Marie in addition to a Fences 45. Hie
Honour than dineted Mr. Ernes; at the neat' meeting to
bring is a gmemition showing what calk made by the
&macs et lie company now rentaised unpaidst
re, so that defaulters might be ca
yea to pal sr, proceeds to he applied in liquidation
of the debts of the company. The sfikiel manager was
also, m a preilmiaary mending, to rectify and make up
the hooks of the company for this pupae* under the 34th
whoa of the Joint Stock Company's Winding-op Act. It
appeared that the additional live Musa for which Captain
Norms was held liable, was from his having agreed to take
them by • resolution of the directors es part of his qualifi•
cation Mane. The 31 shins in the name of Captain Price,
wen shares allotted to him, and which he had recognised
as such by making payments on thus in kis capacity es one
of the directors. Boma discussion ensued with reference to
the present position of the law of liability in these matters.
His Honour said that the law that had been laid down
on the quietism of silottees, in looking at all the Hata of
contributories, was the one that he, the Master, boil criginally
taken. He had heard that his lordship had lime his decision
entertained a question es to the point of complete registra-
tion in the matter, but he had not as yet found that there
was any truth in it. As regarded the question of the pro-
visional committee, he had ell along adopted the common
law view of the cam' u the really common sense one, though
he thought nothing conk be done with the anomalous posi-
tion in which the case of Upfill put the law, until the
House of Lords met again. Mr. Ernest said the great queer
tics was, whether the party who took shares took them as a
provisional committeeman. It wee a common trap of the
day, in 1846, when hundreds of schemes came forth, to mend
out circulars, saying that the shares wen allotted them as
provisional sommitteemen, and if there was no repudiation
us reply, it was taken es en implied admiados.
Tosturs Lua Asarriyarcit COMPANT.—The meet-
ing yesterday before his Honour, Muter Richards, in the
absence of Si, W. Horne, to make a call of 20s. per share on
the antion of Mr. Manning, solicitor to Mr. Croyedill,
the official maser, was adjourned.

LONDON AND NORTH NV =TERN RAILWAY.—
Traffic for the weak ending 26th hammy, 1861.—Paseen-
gen, panels, carriages, horses, and mails, 21,1351.12 s I Id. ;
merchandise, 16,8231. Os. 9d. ; cattle, 7941. 5,. 21. Total,
38,7521. Ms. 10d. Correspondiag week, 1859, 39.3471 BA 44.
hgeregate-1850 : 162,034 Os. 7d. 1861 : 157,7791. 101. 114.
LONDON AND Sown WISTIIN BALLWAY.—TraiIIe for
the week eliding Jaa. 28,1851 :—Pamengers, 6,1031.194.4 d ;
goods, 1,9341.85. 94. Total, 8,0381. Be. 14.
MIDLAND Tintiway.—Tmillo for the week ending
Jan. 26, 1851.-19,2971. 14s. 10d. ; ditto Jan. 27, 1860:
19,2141. lls. Aggregate-1850 ; 7,9101. 19s. Ild.-1861:
78,0031. 85.
STAI7OIDONLIN RAILWAY.—Trafte for railway
sad canal for week ending Jan. 19:-4,3691. Correspond-
ing week bat year :-2,3691. Bulasive of reosipts under
the agreement with the London and North Wasters Rail-
way_Cempaity. Canal imploded by frost.
NORTH STAFFORDSHIRE RAILWAY.—By the report
of the &restore to be submitted to the half-yearly meeting
of the comma, to be held at fitokenpos-Trent on the 3lst
ins. it appears that the amounts of the mat half-year show
a steady increase in the traffic of the lion, and, as the directors
antielpered, without a otorresponding nonage la the shame
menet revenue. Altar adding largely to the realm Mad
sad after the payment of the interest upon tke borrowed
capital sad the amount due upon the canal shares, a clear
available batmen of 29,1671. 9s. 10d. remains, whin the
directors recommend should be divided at the rata of 3e. 6d.
pm share, free of income tar, leaving a small amount to the
credit of the eorepany end a rune lead in band amounting
to 19,5761.3.. Of the lam wadimpseablo, 10,6911. 17s. 14.
arises from the receipt of the amours proportion of the
through Namhester trans, wise the agnomen with the
London sad North Woolen Company, reported to the
shareholders at the lain sewed moodag. The romaladee is
to be attributed, on sounemesame,la the ertmlnie emeolen
by that amossant, bat yeinolpelly te she farther development
of the loon trade.

A RAILROAD MEETING was held et St. Andrew's
Canada, on the Mith Olt., when it was aired to recommend
the municipality of the county of Two Mountains to take
stock to the amount of 30,0001 in the projected Montreal
aril Promote Railroad. provided that the said railroad pam
*mil the county of Two hioantalas.

AMERICAN AD VALOREM DUTIES AND
THEIR CONTRADICTIONS.

The following carious feet, are stated by the
Tribune, of New York We have already illustrated the
radical ionlaity of oar existing twig by the example of hemp
and Its manufactures, the former boing charged a duty of
30 per coat. ad valorem on its foreign cost, while the same
staple,manutaottlud by foreign labour, is admitted u cables,
cordage, *c., at a duty of 25 par oast. ad valorem, or one-
sixth law than is charged on it when imported raw and
manufaottud by American labour. Nobody defends this;
no advocate of the existing tariff &Undue to correct it; yet
none of them indicate a willingness to correct it. But it
seems we did not fathom the depth of the anti-national
injustice. The present tariff, through inattention or design,
Piled 'alma:fly rope yarn' among the articles subject to
25 per cent., or any other duty. The consequence is that
it comes under the head of non-enumerated articles,' which
pay a duty of but 20 per cont., or one-third less than the
Americas spinner of just such yarn must psy on his raw
material in case he imports it ! "