The Express.
London, England, 1851-03-07 00:00:00

RAILWAY MEETINGS.
GREAT N()RTIIERN RAILWAY.
HALF-TRAILLY MEETING.
Yesterday the ninth half-`early ordinary general
meeting of the promoter, of the. railway was held at the
Loudon Tavern, E. R. Destaux, Esq., M.l'., the chairman
of the directoe., in the chair.
The SEt'RETARY read the report, which contained the
following etatements:
" The at Mll, ter (ha half-year to lllst December, 1850,
which have I,,en her seine day. in the bands of the pro-
prietors, give a full statement of the receipts and expendi-
ture la' the compost's capital, of the revenue arising from
traffic, of the working expowea, and of the result or net
revenue. By thew aveoulet. lions appear. to be a balance
on the net Tarnow account, amounting to 52,5521. 17s. 7e1.,
hat as there is a charge. to the. balance, amounting to
16,1441. 13s. 94., for &rid, nil due to preference share-
holders to 11$ lien-other last, and 10,9981/. 15s. 4d.
fur interest due on mortgage debt to the same
period, the available balauee will only amount to
20,41401. lie. Cal., which your directors propose to
carry forward to the credit of the current half-year.
It has Isvu the earnest endeavour of the directors to econo-
eipendetun a. Much us pioible—but the require-
ments of an increasing traffic, suet the necessity of making
ample provision fora con,illerable expansion of it in the
pri.ent year, hate vaned for AU inunedeate and larger out-
lay in additional sidings. buildings, and other works, and in
roiliug stuck, than was originally contemplated. To pro-
ved, for this extra expenditure, as well as the deficiency
emanated at the last half-yearly meeting, and all future
requir, me nes. your din eters 'impose to take powers at the
pre ant meeting to raw 7,10,000/. of additional sharer:spite].
l'he ,Mare capital ho-lug paid up. the directors recommend
the eoll‘rnaoa into stork of the 251. original shares and the
A and 11 half-slier.. of 1:11. 10s., to take effect from lit of
Slay next, at the rate of four of the original and eight of
the half. -hare-, for each 1001. mock of the various denomi-
nations . trimmers nut to be allowed fora less amount than
101. stuck, sod to b for MAIM only that are equal multiples
of 101, except in caws of balance • and as the object has
been long More attained, for which the privilege to divide
the 251. shares into A and LI half-shares, was created,
the directors have divided that such division of shares
shall cease on the :hush April neat. The directors re-
commend the forfeiture of 720 share., on which calls
are in arrear, he confirmed—due notice having been
gives to the respective proprietors. The works on the
Towns line are progremiug satisfactorily; and it will be
seen, on reference to the engineer's report annexed, de-
scribing the state of the works more particularly, that this
portion of the line will bo completed and opened for traffic
by the cud of this year. In behalf of the body of labourers
employed over the enteral contracts on the Towns' line,
about sixty miles, the directors recommend a vote of two
hundred pounds for their moral and religious instruction.
The arrangement with the York and North Midland Com-
pany, referred to at the last general meeting, has been
ratified, under the scals of the respective companies; and
the Deem Northern trains have b:en, since August last,
Tegalarly working over the York and North Midland line,
to and from York. With reference to the traffic from
Edinburgh, Newcastle, and other places north of York, the
directors have come to an arrangement with the London
and North Western. the Midland, the Turk, Newcastle, and
Berwick, the North Britith, the Caledonian and the Car-
lisle Companies, for a disision of this, traffic. With regard
also to the traffic from Yorkshire and Lancashire,
for which the Cheat Northern Company competes
with the Midland and the London and North Western
companies, y our directors have ramie a proposition for a
divisiou, which is under consideration. The subject of
traffic anausiamints with the Eastern Counties Company
has been renewed since the last meeting, and a deputation
from this eornione Caine to an understanding with a deputa-
tion from the E eaern Counties Company, upon all the
points in which tit, two companies would compete with
each other ; and your directors dealt with the question upon
• basis which they eon-ielered liberal towards the Eastern
Counties t'uospuoy. in the hope that a permanent arrange-
ment might be Made to secure the harmonious action of
both. It is, however, to he regretted that the &mein Comi-
ties board have nut ratified the arrangements made by their
deputation. This company. it will be remembered,
the right to work oier the Eastern Counties line,="aeeets
Peterborough sod Wisls ,h; and your directors have made
arrangements sigh the East Anglian company by which
they will work the Est Anglian line from Wisbech to
Denham and to Ely, thus enabling this company to cana-
namicate to and from their main line to the northern parts
of Norfolk. This contrast is made upon the terms of pay-
ing to the East Anglian eompany 40 per cent. of the income
derived from the East Anglian line, with a guarantee that
the mould thus paid shall not be leas than 15,0001. a year.
fining about the net profits earned by the lino for each
of the two last years; the per reotage to increase
opus an increase of traffic. The traffic of that line
has been depressed by the want of free communication to the
west sod to the south, which will be furnished by the Great
Northern line, and there tan be no doubt of its improve-
ment under the arrangements with this company. This
company having rae'eised from the Royston and Ilitchin
Compaq the line froat Hitchin to Royston, has been work-
ing it since the mouth of October last, and the extension to
Shepreth will, it is expected, be ready for traffic in May
Mill. Your dinetries, feeling the importance of the cum-
pietism of the line iota t:sanbridge, deemed it necessary to
deposit is parliament a bill for an extension from Shepretle
to that tows, awl for a junction then with the Newmarket
line; this till was, however, opposed by the members fur