The Express.
London, England, 1851-01-15 00:00:00

Kr. PAR 9014- said the accountants had gone very
carefully Sato the neonate, and it appeared from their emu-
may that the total cost for the purchase of land, includiog
the expenses of conveyance and one year's inteiest no the
total amount, was 169,3311. 12.. 6.1. The estimated east of
completing the waits and permnnent way wee 1,181,17 W.
The payments to the contractors since the 30:0 of
November, 1850, op to which dote the acemnts
were made up, were 49,8461., making a total, u..der
the head of works, of 1,231,460 t. The Mutest on debentures
clue andtobecomedue se as 33,9371 The parl imentary ex newt s
din-, delivered, and not yet paid, including law charges, were
24,6611. 19s. 4d. The engineering expenses due and to be
incurred WI toe opening of the line were 20,2t.itt1. There
were some other small Sums. But the taut amount neces-
sary for cemplitiog the line was 1.503,0001. It was to be
ob.erved that the Volt of tolling etc:ll was net included in
the estimate of 3,103,0001. (Ilene, hear.) It would br,
therefore noccuary to provide additional capitol to pur- I SO
clime rolling stock, or to &low contractors to find on a cu.
fe
lain par neatsee of their traffic. (" No, no.")

Mr. BRUNEL said that nothing was more common than 20
to allow others to provide the rollieg stock, and it many "
inatances it was much the most economical way, particularly 30
it the railway did not eons* directly into the metropolis. in
(lieu, hear.) lo a line suits as theirs it wee better, if er,
possible, not to incur the rbk and responsibility of krevidng II(
liar plant themselves. (H, ar, hear.)
Mr. Alderwon THOXISJN observed that the noble 10
chairman is his estimate deducted /) per cent. Lox the is
grew tor wear and tear of rolling stock. 50
Mr. BRUNEL said that the Great Western Company 23
when they proposed to Inas the line intended also to pro.
side the plant. 7i
Mr. DICKENSON ;aid that on the North Western Imo 11
the winkles expenses am.unted per cent. le
A SHAREHOLDER wished to know how much the
rolling steak would cest ?
Mr. PARSONS said that the cost of rolling stock seemed Ss
from 21001. to 3,0001. per mile, but taking it at 3,0001., and LIP
multiplying it by the number of miles of which their railway
consisted, their rolling steels would cost about 300.0001. 99
Mr. COHEN said that the estimate for making the line in in
1845 was 1,600,0001., but now it was more than double that 13
eau He therefore thought that they hat been deceived In
the estimates. They Ind or u mulcted troth in reference to a-
land and law. They had paid the solin Lei in the chair 23
5001. an acre for land. (lltar, hear.) He bad written • le
letter to the railway commissionen in reference to the agree- to
meat between them and the Great Western Company, and Iti
he received a reply, dated the 6:h iestant, la which it was P 4
sated that the cse between the two companies was to come :I
on !or trio! next term. Under the ,e eireusistaams he thought el
it would be better to pcatpone the present proposition of the ee,
directors. (" user, hear," end " No.") IT
Me, MALINS nid that the line had been prepared in 50
referee's to the Great 'Wester" hue. Now the line bet.veen 22,„,
Benham sad Oatord was certainly the worst portion of tLe ;47,`
;in', and it seemed to him that it would he better to tarty sgi
their line into the North Western at Honour?. The North se
Western bad a project by which they would be able to reach eh
the 8 uth ea well as by the Roadie.; and A igate line. 1$
A SHAREHOLDER said that he had levet ted his money ul
en the assiotance of the agreement with the Great p,
Western, bat he had been grossly deceived on that p Ant. tY
He now wanted to know distinctly whether the Great to
Western Company coteld enforce the agreement if they cool- 10
pleted their line.
Mr. PARSONS said shot there was ►
no binding contract Ilut!
between the two companies. There was an act of earliam nt
enabling them to Maas the line if they agreed upon the 9
terms, but they had ant been able to swine to Cu agreement,
Mr. Setjetua GAZELEE complained that the directors ru
had taken upon them:elves to remodel the board of ditevors
after it had been remodelled by the shareholders. He did to
*
not expect mo.'h as long as tour Great Western directors N.
cootineed to sit et the bard. IS
Me. PARSONS said that he had teen Sir Edward Ryan
on Saturday, who told him that the railway comuninionen ar
would await the result of that meetini!, bud that no ceps se*
would be taken, if the meeting sanctioned the triable of tae en
money. (Ilear;ltear.) le
Mr. Seek ant GAZELEE moved as en amendment that SI
the further conalderation of the gees:Loa be postponed till l
the ordinaty meeting of the company.
SS
Mr. OLD said that if IN thought they should be unfettered 10
by the Great Western Company he we lola vele ;et the nal-
lution, but if they were to he fettered by the G Western hi
Company he had great doubts re:ether the ensue, would be
raised. (Hear, hear.) se
Mr. THOUNCROFT, a director, said that notwithstand yt
-
ing the obloquy which had been cut upon himself and his g
colleagues he would forgive it all if they only gave the money W.
to enable them to complete the line. (Hear, and laughter.) is
Mr. ItUFFOItD, a directsr, read a portion of the address 22
of the speech of Mr. Russell, in which he attributed the non- at.
fulthment of the agreement to the Oxford, Wu:cater, and s
Wolverhampton Company. . fe
In reply to Mr. DICKENSON, St)
Mr. PARSONS said that the eorepany were obliged by 23
ad of parliament to lay down the broad gauge. (Hear.)
to
Mr. MILDER suggested that there should be mutual ss
release' with regard to the obligations of the seraemeht
between the two companies. at
The CHAIRMAN acid the: no Must steps bad been 4.5
taken for that purpose, but It was understood on both sides 23
that there was no binding agreement. But if the gr., 13l
holders wished, the directors would enter into negotiations
for that impose, although they wi re of opinion that there eel
was really nothing to be released Irons. He would take
that oppartuntty of saying that it would be better for the UN
interests of all concerned In this line if the feeling of ups. 24_
ration which seemed to exist between tome of the share.
holders and the directors was softwood dove. (Hear, p)
hear.) He renal assure them that the interests of the shore- so
holders were the intereste of the directors. (Hear, hear.) us
In reply to a shareholder MT. KI:FEVID stated that no ik
director of the Great Western Company hal ir -.ended the
meeting of their board for the last twelve mouths.
Mr. GAZELEE intimated that he would not persist in
the amendment he prcpestd. (Hear, bear.)
The rest lutions were then put and carried, three or four
shareholders only holding up their hastls in oppcsidor.
A vote of thanks to the Chairman terminated the
promedings.