The Express.
London, England, 1849-08-01 00:00:00

RAILWAY MEETLY(}.

CAMERON'S STEAM COAL COMPANY.
The minuet meeting of this ecapang was held at the offices
in Moorgate-stree. Mr. Wateimor having taken the
chair,
The Securrant read a long report, which, among other
things, stated that the Lot tall bad been partially successful
in liquidating pro tasto the engagements of the company.
Shares representing 25,0001. had been taken out of the hands
of parties, end invested elsewhere fee the good of the corn
pony. The negotiation with the vendor of this estate (Col.
Cameron), lately completed by the directors, was in the
nature of a large eonces.ion to the shareholders, he having
granted five years longer for trying oft the principal, •
large portico of the interest, as well se all dividends that
might be payable within three years on a very considerable
portion of the share,. he held id the company. As to the
future, the dizecton believed that, with • property
of 1,300 acres, within five miles of Swansea, and
the port of %lewdly, abounding in coal of the
finest quality, they had a source of prosperity
which it only required mess s to develop. A, to the rail-
way, the directors had an interview with the board of the
Beath Wales Railway Company, sad were led us believe
that they would be induced to press forward that portion of
it between Swansea and the property of the Cameron Coal
Company.
The balance-skeet was laid on the table, bat not one word
of its motauts was read to the meeting.
Mr DANTIN paid he had been advised to protest against
the meeting as Illegal; and he cautioned all parties to avoid
taking pert in the proceedings.
Tic CHAIRMAN protested against this dissension, which
had b. en the means of the ill•success of the company with
she public. The directors invited any proprietors who
wished to co-operate with the direeton to avail themselves of
the vecanees in the air/tilos to do so, for it would be impee.
able far them to proceed without unanimity.
Mr. DANFIX said he bad never any confidence in the
directors. They had spent urvards of 48,00 W., and they
had nothing to show for it. (Hear, hear.) Would they
agree to carry oat a eoreern that must be done so at • loss to
themselves ? He bad been deceived like mss y others by the
company plan a dividend of 121 per cent. before they had
realised any profit whatever. (Hear, hear.) When he
called upon the secretary (Mr. Howden) and asked for his
opinion as • Irked, he was told it was the best thing pos-
sible; and that instead of a 12i per cent. dividend, he might
next
Mime expect 15 per cent. (" Hear, hear," and
.)
111.4110WDON denied saying it.
Mr. Smasz.notez said he objected to paying 2,0001. a year
to Colonel Cameron for the property as a dead rent, but he
would sot olgeet to 6,0001. a year if it wens on the value of
the mineral Weed.
A Pnorargroa observed that the boasted concessions still
made them liable to 2,0001. a year, and the payment of
150,0001 ; the time for the payment was only postponed.
Their liabilities to the veudtr remained the same as be-
tom. (Hear.)
The SECRSTARY, in answer to a shareholder, said that
there were from 16,000 to 17,000 shares on the register, but
only about 4,000 on which payment of the call could be
100 kW for.
Mr. DtiNVORD thought, under such circumstanees, the
company could net be continued, and if so, it would only be
at a loos to the shareholders.
After some consultation a resolution was propoeed by Mr.
Ra.•tue, and seconded by Mr. Smauatone, that the report
be prated sad circulated tor the information of the share-
holden, and that the meeting adjourn to the 16th of August
fee its consideration.
The meeting then adjourned.

LITIMPOOL, CROOPT, AMU 1301:TIIPO1T.—The report
to be presented at the half-yearly ineetiog states that
there is a net helium ow the weak receipts, after defraying
ell espouse, amounting to 2,8301., which will give a divi-
dend of 21 per cent. foe the half-year. The directors
announce that it is not their intention to proceed with the
extension line.