The Express.
London, England, 1851-08-26 00:00:00

EXTE.NSIVE FIRE AT GREENWICH.

Tills DAY.

A fire, attended with considerable destruction of
property, broke out this morning in the premises belonging
Is Mr. T. I'. Marks, plumber, dc., No. 13, East-street, East
Greenwich. The flames were first discovered about a
quarter before one o'clock, et which time they hail obtained
such a firm hold of the lower part of the building, that it
was with the greatest difficulty the inmates were enabled to
*wipe. The TC.1.10.t. of the house h.,,Tbarely :earthed the
street when huge bullies of tire and volumes of sparks shot
forth from the sever d windows, to the danger of igniting
the adjoining property. A female, named Mary
Thomas, in her excitement threw two of the children
out of window. Fortunately a man caught them. and they
received no injury, but Mrs. Thomas. in jumping from the
same window, although assisted by the same man, re-
bounded from his shoulder, and striking a wall, broke her
collar bone. She was immediately removed to a surgeon's
in the u.sighbourhoo I. Several engines were soon on the
spot. A plentiful supply of water was obtained, but
before the ti.vint s were assuaged the whole of Mr. Marks's
stock in trade, furniture, and wearing apparel, were de-
strop& and the building gutted. The house, No. 11, has
likewise sustained great damage, and the roof is partially
destroyed. Nov. 10, 11, and 12, belonging to Mr. Smith, of
the Trafalgar-road, arc also considerably damaged, and so
is No. 15, belonging to Mr. Clayton. Mr. Marks fortu-
nately was insured in the County Fire-office.

RAI LW.I Y M I.:ET I NGS.

GREAT NORTIIERN RAILWAY MEETING.

Tills DAY.

The ordinary half-yearly meeting of this com-
pany, was held this slay, at the tondou 'tavern ; EUXUND
Demist/3, Esq., M.P., in the chair.
The advertisemeuts convening the meeting having been
read, and the seal of the company affixed to the share
register, the report, which has already appeared in the
Brpzem, was by consent taken and read ; and
The CIIAIItMAN proceeded to address the meeting.
He commenced by observing that the command of the
Queen to use the line would, he was sure, be a sufficient
excuse for I ' iing them. together curler than was ori-
ginally iutended. Public opinion daring the last three Of
four mouths had decidedly set in in favour of the Greet
Northern line. 'rho:mends were travelling by it, and the
fact of her Majesty going by it to the North ha
had no doubt would bring it still more generally
in use, and the route through Grantham by the
Direct Northern road would again become the popu-
lar route to Scotland. The success of the company was
greater than he bad calculated upon. (Hear, hear.)
Their prospects were cheering, and with forbearance and
perseverance the concern would, he was confident, speedily
become remunerative to the full extent of their expectations.
The dividend proisuatal at the rate of II percent., was, he
thought, satisfactory for a ciouriencoment. It was a fair
dividend fully earned, hut it was declared upon the princi-
ple that the shareholders were entitled to the full amount
of the profits arising from revenue in the half-year. Ile
then spoke of the necessity of raising snore capital as stated
in the report, and expnsw•d himself favourable to the pro-
posed mode of raising it by issuing preference shares to be
redeemable at a future period should the rate of interest
fall. Referring to the competition with the North Western
and Midland, hi assured the proprietors that while doing
all they could to defend their interest, the directors had
shown every desire to conciliate and arrange all differences
in a manner which should be fair, just, and satisfactory to
all parties. He then detailed the negotiations and cor-
respondence which loot passed between the Great Northern
and the North-Western, stating that the Midland had in
effect nu independent ezidence, and that, whatever was
dune iu reference to the northeru tralfie,asegaiast the Great
Northern Company, was done at Euston-square. Ile (the
chairman) had proposed (aud he wished this to be distinctly
understood) that all matters between them as to the divi-
sion of the truffle of the six towns, York, Wakefield,
Leeds. she'll...lll, Doncaster, and Lincoln, should be left
to two or three independent gentlemen. Ultimately Mr.
Gladstone, M.l'., was appointed the referee, and then the
North Western insisted upon including in the reference
other towns, to which the two companies had not equal
running powers—that wan towns to which the Great Northern
had erica@ hut the North Western had nut; and in respect
to which the hands of the Great Northern were tied
by pre. ious agreements. 'tut he said to them, "it
you will rider all those towns, as Bradford, Halifax,
Huddersfield, to which, by our line, the distance as
between London and those places, there would be a saving
of front twenty to twenty-live miles, but to which
the Great Northern hail lest access except by using WOW of
the law s under the control of the North Western, and in
regard to which they urged they were bound by previous
age., anent, he would consent. Parliameut undoubtedly in-
tended railways as public property--that was,that the trains
of title company might run over another; but unfurls',
nab ly that right was so clogged by regulations as to water
and other matters as to render it inoperative. After much
delay the North Western consented to the ease going before
Mr. Gletletone, as originally intended. As the matter was
still sob jurlice, Mr. Glad-tone not having given his award, he
would say no more upon it. Ile had said so much to show
that the Great Northern board haAl done all they could to
work harmoniously with the North Western and Midland.
lie had uffered over and over again to the North Western
that they should settle the fares for the competing traffic,
and that the Great Northern would adopt them, and abide
by them, provided the North Western did the same.
(Hear, hear.) it was, perhaps, a good wind that blew no-
body K.. 4, and the result of the course adopted by the
North Western had been to allow the people of Yorkshire
to come up to the Exhibition for is., including the hack
Lire, said with those who had availed themselves of
these low fans what lie was now sayiug would nets
perlistri, be very popular. (" Hear, hear," and a laugh.)
Turning to Mr. Glyn'il speech at the late North Western
mictine, he denounced as most unfair and uncluitlid the
stab went made by that gentleman, that the ruinous compe-
tition going ou between the companies originated with the
Great Northern directors. It would have been more foie
had Mr. like referred to the documents as he (Dr. Dent-
-10n) 11:161 dune, instead of throwing stones at others. If
guarded language was not used by directors in addressing
their shareholders, the difficulty of railway managsnist
would be much greater than it was. They should take ems,
who n endeavouring to conciliate their own shareholderemet
to attack others. (Heer.) Why had the North Western
rectors reaerved 140,0001. at the last meeting? Assuredly
for the purpose of fighting battles with other companies.
What would the 'louse of Commons say to the Chancellor
of the Exchequer if, having a large surplus, be proposed to
retain it as the means ot• engaging iu some future hostilities
with another country ? (hear, hear.) The shareholder*
had a perfect right to all that was earned within the
►alf-year —(cheers)—and no reserve should be made fee
such purposes as had,been adduced by Mr.(llyrn. Fur himself
he would del:lure that he would nut retain his seat at that
board any longer than the policy which he considered right
was approved of by the shareholders. He believed the coin-
puny to be in a satisfactory position; but Home was not
built in a day, and he intrcated the shareholders to await
with patience the legitimate development ol• the resources
of the line. lie concluded by moving the adoption of the
report.
Mr. llerapath, jun., moved an amendment condemning
the agreement with the East Anglian Company.

110,40 N, STAMFORD, AND BIRMINGHAM RAIL- I
balf-vearly meeting of this company was held
yesterday, at the terminus of the Great Northern Railway,
iiin4's,cries; Mr. Maeaulay in the chair. This line now
form, an integral portion of the Great Northern, and the
bu•oiess •(.42, tUlliilll.4 to the reception of the accounts. The
capital account amounts to 83,62451. 10s., and is thus coen-
P,rl:--First deposit on 30,806 shares of 22.. per share,
125.; fractional amounts received to consolidate
h ,„‘lkced Awes, 5321. 18s.; first call on 12,516 reduced slums
21`.. 2.,2771 is. ; second call on 12,526 reduced shares at
41,. 27,3511. is. ; and to sums received by the company
'Val Proprietors to consolidate their shares into a value ex-
il.an,tv able in the ratio of 5 for 8 of the Royston and 'litchis
Lai...my, less amounts paid to the proprietors for the
"O. purpose. 525 f. 12s. The expenditure amounted to
19s. 1041., leaving a balance of 6931. 10s. Id. Oa
motion of the chairman, seconded by Mr. G. IL Paella,
I,..unts were agreed to, and the meeting separated.
bIIEFFIELD, BARNSLEY, AND GOOLE RAILWAY.—
On the afternoon of Saturday, the ordinary half-yearly ge-
ittl,al meeting of the shaiehulders of this company, was held
s; th,, company's office, in Westgate, Wakefield ; E.
he woud, E.., was in the chair. The following report
w`' read. -" Your directors have to report that the Amend-
ment sad Deviation Act, presented to the managers of the
Louth division in the last session of parlianomi, has be-
e"welaw. They are happy to be able to state that there
rini.um a sufficient balance to the credit of the capital se-
emed to cover all the pecuniary liabilities of the company,
Throngs small margin for contingencies, without trench-
thg atom year revenue. The directors have, therefore, to re-
commend that a dividend of 5 per cent. be paid, less income
ouratdiately after the receipt of the half-year's rent
from the Lancaahire and Yorkshire Company ea the
of September." The report having been adopted, andln, pkpoeut of the dividend of 5 per cent. agreed to,
the
meeting separated.

EASTERN COUNTIES RAILWAY.
After the report of the proceedings at the half-
yearly meeting of this company, given in yesterday's
Erpress, was despatched,
The CHAIRMAN went on to say that Mr. Ashcroft had
thought it right to explain his views in reference to the de-
preciation of the permanent way. The shareholders having
authorised the directors to set aside 8,000/. fur the half year
ending in June, and 14,0001. fur the half year ending in
December; although Mr. Ashcroft had asserted that he did
not consider 8,0001. req•iirml, yet the directors had thought it
best that that sum should be included in the charges of the
half year. The directors had stated in their report, having
regard to the clip: 6:11,a ut ti.h.,oiating the raid+, twat lue•
Aar experience might induce them to recommend a recoil-
: sideration of the propriety of putting aside an annual sum
as a depreciation fund for the permanent way, or an altera-
tion in the amount so reserved. For his own part he be-
li lieved the principle of the fish-joint was sound, and that
they might be able eventually to give up altogether tho
maintenance of a reserve fund for the permanent way. Ile
would say one word with regard to the legal expenses in-
cluded in the accounts, which amounted to 5,0081. 161. 541.,
and might he considered a very large sum. LA Shareholder
For how long ?") This charge was for a period of six
months. Their solicitors were gentlemen of the highest
eminence in the profession, and no less than 3,3691. of the
. .

charge be had mentioned was for parliamentary expert's.'
during the;last 'session, necessarily including a very large
sum out of pocket. This expenditure was incurred not
only with the view of protecting the property of the share-
holders, but also the guaranteed stock, and he thought it a
question deserving consideration whether the ordinary
share capital of the comany ought to bear the whole har-
den of this charge. (hear.) The money ROY not spent
merely for the benefit of the proprietors during a par-
ticular half-year, but was for the advantage of all
future shareholders. Ile could point uut other cont-
.

panics which threw such charge upon their capi-
tal, and his own opinion was that the guaranteed
stock ought to hear a share of these expenses with
the ordinary shareholders, for he must remind them
that not only had they been obliged to enter into contests
with other companies during the last half-year, but that
they would have to engige in similar contests during the
next session of Parliament. Ile wished to ascertain what
were the ♦iews of the proprietors generally on this subject,
for, if they had hitherto acted upon a wrung principle, they
might change their course in future. There was another
charge in the accounts of 74/. for pmsy stamps;and he must
say, for his own part, that he would never put the share-
holders to the expense of a shilling for the sake of obtaining
a proxy. (Hear, hear.) There was in the revenue account
a charge of 2,5:171. J.. fid., paid during the half-year
for casualties, arising from the unfortunate accident
which (lectured the day before last Christmas-day, and
the amount, under the head of casualties, still outstanding
was estimated at 7,4001., making together 10,0371 Os. Gd. It
was estimated that the amount of 70)001., which was set
aside would more than corer the demands under this head

There wan auother item of 2,7691. rm. 3d. fur the amount
expended in the preparation of statement., with a view of
appealing against the parish assessments. That expense was
incurred previous to this half-year, in getting up data show-
ing what the company canted per mile, and at each of their
stations, in order that if any question of ratlike arose they
might hose the wane tit suirstantiating their case. A sum
of 1,617/. ha I also been paid to Meese'. Quitter and Ball
for investigating th • capital expenditure of the company.
He had received numerous letters inquiring how long
this expenditure was to go on, and he begged to say that
he had ascertained that the additiuual expenditure was es-
timated at about :100 ~ stud the charge would then cease.
This was the explanation of theirdetails, with the exception
of the ISO!. charged fur printing, which was so trifling that
no explanation was necessary. With regent to charging
the whole 10,000/. fur accidents, dc., in the present ac-
count, he would justify that merely by saying that the di-
rector:, felt the utmost anxiety to start fair, with all out-
etunding claims cleans off. (Hear, hear.) They lilt the
time for despondency was past, and that if they confined
their attention to the developinint of t e resources
of the districts, starting witu a fair balsnee-sheet
they would be able to present a much more
satisfactory report in future half-years. '1 hi•refore it was
was that they had preferred to appropriate this bithatre of
114,6351 in the way he had ikeeribi d—though the result
eras to deprive the shareholders of dividend for the present
—for the sake of placing the affairs of the company on a sound
Ibundation tor the fu t uni,a t hat henceforth the shareholders
might take the stilton. tit of the receipts and expenditure
of the company, and from it gather with certainty what the
dividend would be. This was the only explanation hehtul tugive
give on that loin'. Under the head of Illt auditors' reportehe re
were some matters which he was aware would occasion untie
remarks. The charge for parliamentary expenses, including
the opposition to competing lines, contained two items 60M.
together. The puytaents had been specially brought to the
notice of the proprietors by the auditors, and it would be
fur them to give any explanation in reference to the subject
they might wish. they said in their report—'• 't he charge
for • legal expenses (including parliamentory opposition to
competing lines)' contains two items. amounting together to
6.10/., paid by order of your late directors; for these amounts
no vouchers have been preduced to us, and on inquiry we
are told it would be undesirable for you to pusses. particu-
lars of this expenditure. We cannot, consistently with the
important trust reposed in us by you, accept this explana-
tion, and therefore submit both these matters to you to
deal with as you think fit." Ile did not desire to make
any observations upon what had been done by gentlemen
who had been conducting the business of the company, and
who were no longer members of the board, but as fur as he
had ascertained the facts he was convinced that the directors
who hull directed the expenditure had considered it neces-
sary fur the interest, of the company, and that in directing
a sum of money to be set aside by the secretary to he em-
ployed privately as the solicitors might suggest in carrying
on the contest in parliament, it was considered they were
doing that which tended to the benefit of the under-
taking. Ile believed firmly that the money lord been
smart. with that object end no other, and this was
tho only explanation he had to offer on the subject.
Ile now came to the Harwich agreement. To that
agreement the Eastern Counties' seal was already
affixed. The Eastern Union proprietors would hold their
meeting this or the ensuing week, when, it was expected,
their seal would be affixed to it also. Already a joint
committee of three from each hoard had been
appointed to carry that agreement into effect.
When it was sealed therefore there was every reason to hope
that no difficulty which could nut be easily removed would
interpose to the carrying out of the Harwich branch, the
benefit of which to the Eastern Counties line could scarcely
be overestimated. (Hear.) It was, in fact, a mutter of
astonishment to him, that that branch which would be only
10j miles in length, and would connect them with one of
the finest harbours of the country, had been so lung delayed.
[A Shareholder: " What will the line cost ?"„) He was
told that, according to the revised contract, making a single
line, including the land, hut independently of the harbour
works, the cost would be about 1.10,000 i. LA voice " Then
we shall have no dividend next year." A laugh.] With
regard to the Norfolk agreement, he did not think it desir-
able to enter into that question at any length on the pre-
sent occasion. The Norfolk Company had communicated
with the Eastern Counties directors, inquiring what course
they intended to take. They considered that thebest course
they could pursue was to rely upon the agreement. they had
previously made with the Norfolk Company fur a given num-
ber of years. He was convinced that at the present moment
it was desirable they should maintaia amicable relations with
that company, and he hoped no question would he intro-
duced to-day calculated to engender any ill-feeling or to
cause a renewal of an acrimonious correspondence. The
establishment of steam-packets at Lowestoft was to be
of very great importance, nut only in developing the
resources of that town, but in adding to the revenues of the
Eastern Counties Company. (Hear, hear.) However Mr.
Pete might be held up as courting the Norfolk Company, he
(the chairman) knew that him. gentleman was doing all he
could, by an outlay of his own money, to develope the
resource. of Lowestoft, and in so doing he must necessarily
add greatly to the revenues of both companies. With regard
to the Great Northern Railway Company, some two years
ago that company entered into au agreement with the
hastens Counties Company, whereby they were to abandon
the construction of a line culled the Boston, Stamford, and
liiriningham line, which gave them access by l'iterborough
to Wisbeach, and terse Eastern Counties company agreed that
the Great Northern should use their line from Peterborough
to Wisbeach, paying 60 per cent. upon their receipts. At
the time that agreement war made the Great Northern
Company would not have had the means of joining the
East Anglian Company at Wisbeach. A few months ago,
however, in consequence of some arrangement they had
made with the East Anglian Company, the Greet Northern
Company gave notice to the Eastern Counties of their inten-
tion to work over the Eaters Counties line, and instructions
were given that they should do so accordingly. Having
given them the privilege of running to the Wisbeachstation,
the Eastern Counties Company considered they had fulfilled
their part of the bond; but the Great Northern Company
said, " We will stay short of Wisbeach and use another
line communicating with the East Anglian line." The
Eastern Counties directors replied, " No, you shall go to
Wiabeach, but you have no right to stop short, and use
the East Anglian line for the purpose of diverting
our traffic. We shall, however, be very glad to make
arrangements with the Great Northern or any other com-
ny for the purpose of carrying out the views of Par-
Cment." But what did the Great Northern say in their
recent report? It contained this passmye :—" 1 he Great
Northern have also commenced working train Peterborough
to Wiebeach, and over the East Anglian lines from Wisbeach
to Denham. The Eastern Counties Company, in contraven-
tion of their agreement with the Great Northern, as well so
against the rights of the East Anglian Company, secured by
act of Parliament, have shut up the points of junction be-
tween the Eastern Counties line and the East Anglian lice
at Wisbeach." Why, if the directors of the Eastern Coun-
ties Company had not done so they would not have been
faithful guardians of the interests of the shareholders. The
Great Northern line had given them notice of proceedings ,
in Chancery, but he dartd them to proceed. 11 that com-
pany thought they would obtain the use of stations upon other .
lines, and that the companies upon nhich such claims were
made would stand quietly by without endeavouring tomain-
lain their just rights, they would find themselves egregiously
mistaken. But, even if the Great Northern Company ob-
tained the powers which they sought through the interpo-
sition of the Court of Chancery, he had no doubt that in the
end the Eastern Counties Company would be enabled to
regain their just and equitable rights; and they would
still have the advantage of possessing much more direct
communication between London and Lynn, Denham
and Swaffham, than the Great Northern. The
Great Northern Company also complained that they
were not allowed to run over the Eastern Counties Coin-
pany's line from Shipreth to Cambridge; but parliament
had denied the Great Northern Company this running power,
and why should the Eastern Counties Company grant that

of outlay required in the construction of the extension
of the Navan branch to Dells, and the meeting
was adjourned to such time as the directors might appoint
for the purpose of receiving the report on the subject.
In pursuance of that resolution, the directors proceeded to
make the requisite inquiries ; but as it was necessary, to
enable them to arrive at an accurate conclusion, to have
the plans of the extension carefully prepared, the line
marked out on the ground, and an estimate formed of the
cost of construction, they found it impossible to make such
a report as could be relied upon at au earlier period than
the usual time for holding the general meeting. 'I he result
of their investigation shows the ground to be even more
favourable, and the probable cost of comstruction less, than
was unticipmed. The report will be brought before the
shareholders at the meeting, and they will then be asked to
determine whether they will proceed with the construction
of the line or not. It will be very gratifying to the
shareholders to learn that the Dublin and Belfast
Junction Company have contracted fur the construc-
tion of the bridge over the Boyne, at Drogheda, and
that the work has commenced. When this bridge shall be
completed, there will then be that unbroken communication
between Dublin and the north of Ireland which the ,liree-
tors have so anxiously desired, and which is absolutely
necessary for the complete development of the resources of
their line to afford so the public that accommodation which
they reiptire, but which they cannot possibly get while the
line is m its present incomplete state. From the gross
receipts of the half.year, there remains a net profit of
5,2011. 12s. rxl. Out of this sum the directors recommend
that the same dividend which was made at the correspond-
ing period lust year be made at present, viz., twelve shil-
lings fur each old share, and four shillinzs for each third
share. This dividend will require 1,5631., and leave
6381. 12s. 51. to be added to the reserve.