The Express.
London, England, 1853-08-24 00:00:00

GREAT BOAT RACE.

James Candlish, the champion of the Tyne, and
James Messenger, of Teddingtoe, yesterday contended for
2001. over the usual aquatic course for gnat events—from
Putney to Mortlake. The race bad for a gensiderable time
past created considerable interest ansengit all dames of
rowing men, and was one upon which large mum eisseney
were speculated. The necessary preliadaidee bawing been
arranged, the two men took their suldees off the Star
and Garter, and were soon at work. Messenger jumped
off with a alight lead from the Middlesex matron, and, off
the Messrs. Searle's, had drawn himself clear. A most de-
termined and gallant race followed. As Candlish went on
he appeared to get more in rowing form, and overlapping his
opponent's stern-post, threatened again and again a change of
position, amidst the deafening cheers of the spectators, but
es often as he got nearer hie opponent's sculls the effort was
met by a corresponding effort on the part of Messenger.
Despite the most extraordinary and gallant efforts made by
Candlish, his opponent passed under Hammersmith-bride
a clear length ahead, and although again and again
menaced by the desperate spurts of his opponent, Messenger
continued to lead, and finally won by above a clear length,
after being retarded by • foul just before coming in.
Candlish, who exhibited the most determined game to the
very close of the snatch, wee very much distressed by his
exertions at the finish, and although • beaten man was de-
servedly complimented by his friends, as well as by stran-
gers who had witnessed his gallant conduct in a stern
wager. The winner rowed in a boat built by himself, and
was trained by Mr. Styles, of the Ross and Crown, Putney.',
The race was rowed wtth an indifferent tide in 24S minutes,
and the winner's style of rowing was the theme of general
admiration. Betting was for the most part even, but in
some instances 6to on Messenger,

MIDLAND RAILWAY.

Yesterday the half-yearly meeting of this company
was held at the railway station at Derby, Mr. Joux haus
in the chair.

The statement of accounts appeared in the Repress
a week since; the following is the "report of the directors,"
as read by Mr. Bell, the secretary :
" The directors have to report to you that the gross re-
ceipts from the traffic of the halt-year ending Jane last
have exceeded those of the corresponding half-year of 1852
by the sum of 46,9971, exclusive of receipts from the North
Western. The proportion which the working expenses
have borne to the receipts (exclusive of rates, taxes, govern-
ment duty, and the provision for the renewal of permanent
way and increase of rolling stock) has been 441. 17s. 6d.
per cent. as compared with 41!. 3s. 7d. per cent. in 1852.
The per tentage however, of 1852 did not include the
working of the North Western. The balance available
for dividend is 173,4061., and the directors re-
' commend that a dividend (subject to income tax)
I be declared payable on the Ist of September next, of
11. 12e. 6d. upon each 1001. Midland Consolidated Stock,
IS.. 9d. upon each 1001. Birmingham and Derby Consoli•
dated Stock, 31. upon each 1001. Consolidated Preferential
Stock, If. 10s. upon each Erewash Valley share, 2s. 3d. per
share upon each share of 161. 13e. 45., being 41 per cent.
upon Si. per share paid up, leaving a balance of 2,0811. to
be carried to the next account. The accounts of the half-
year include the working of the North Western Railway,
being an addition in length of 47 miles as compared with
the correspoading half of last year. The maintenance of
way accounts for the half-year exhibit a large increase as
compared with thou of the corresponding period of 1852,
about one-half of which is caused by the reinstatement of
the line and works from the damage done to them by the
floods of last winter ; the other priacipal causes of increased
expenditure being the higher rate of wages, the additional
length of line maintained, and the larger traffic of the com-
pany, which has rendered necessary the employment of
more labourers aad the use of a greater quantity
of material,. The many decided advantages in strength,
durability, and economy, which have accrued to
other companies, from the use of the fish joint when
applied to rails of the ordinary construction, as well
as to other forms of permanent way; have induced the
directors, in conjunction with thou of the London and
North Western Company, to purchase from the Permanent
Way Company, the right of using this as well as all their
other patents, for a flied sum, by which means a considera-
ble saving will be effected. Sixteen- and-fehalf miles of double
line have been relaid, and la miles fish jointed during the
half-year ; but notwithstanding the large expenditure
which has appeared from time to time under the head of
Renewal, the increased speed and weight of the trains, ren-
der it necessary to proceed more rapidly than the directors
anticipated, in removing the remainder of the 56 and 6,5 lb.
rails from the main line, and to substitute rails of at leas'
*80165.; to effect this with due rapidity, and to fish joint
further portions of the line where the weight and condition
of the old rails is such as to warrant the expenditure, will
require a much larger sum than is now annually set aside
from revenue. The subject of this renewal and the propri-
ety of charging the whole cost to revenue or otherwise,
have occupied much of the attention of the directors. It is
evident that the greater strength of materials is called for
by the greatly increased traffic of the line; to substitute
therefore 801 b. rails with chairs, sleepers, Ac. of relatively
hummed weight and dimensions, in the place of rails of
only 56 and 65 lbs. and chairs, lc., of only proportionable
weight, and to charge the entire cost to revenue, will be
unduly to benefit the future at the expense of the
present proprietors; the directors therefore recem•
mend the proprietors to charge so much of the
cost as represents the increased strength of the
Permanent-way to capital, and the remainder to revenue,
and they have so treated the expenditure in the accounts
for the last half-year. Mr. Barlow reports, that the works
between Gloucester and Stoneham, have been much im-
peded by the unfavourable weather experienced during the
greater part of the half-year; but that they are now
proceeding rapidly to completion ; that the laying of the
narrow gauge from Stonehouse to Bristol is completed,
with the exception of about two miles, and that he hopes to
have an unbroken narrow gauge to Bristol in the course of
the autumn. The contracts for the formation of the Ripley
branch and the St. Mary's-bridge station, Derby, have been
let on favourable terms, and the works will be commenced
forthwith. The locomotive and carriage stock of the com-
pany has been maintained in good working condi•ion
during the half-year, end besides the ordinary repairs, one
new engine, 31 under frames for carriage!, one break van,
one carriage truck, and thirty-feur waggons have been made
to replace a similar number worn out, and the test charged
to ee . The ten new goods engines and tenders and
590 of the waggons, stated in the last half-year's re-
port to have been contracted for, have been added
to the stock, and the out has been charged
to capital, as authorised by the proprietors. The
very large addition to the goods and mineral traffic, and
its probable further increase, have rendered it necessary to
be provided with additional engine power; the directors
have accordingly contracted for 20 new goods engines and
tenders, at a coat of 52,0001. to be charged to capital
account. The mileage of trains for the half-year has been
3,009,993 miles, as against 2,603,068 for the corresponding
period of 1852, being an increase of 406,925 miles. The
weight of goods and minerals carried has been 1,646,016
tons, against 1,508,058, being an increase of 337,958 tons.
The large increase in the working expenses of the half year
bee been the source of much disappointment to the
directors. It is partly attributable to the extraordinary
expenditure in maintenance of way, occasioned by the
damage done to the line by the floods of last winter, and
partly by the advance in wages and materials in every de-
partment of the service. The increase of expenditure in
maintenance of way occasioned by the floods, the directors
hope will not occur again ; but the advance in wages and
materials has rendered it necessary to make some cor-
responding advance in the charges made by the company for
the carriage of goods and minerals. With respect to per-
liamentary proceedings,the directors found it necessary to op-
pee the bills of the Leicester and Nuneaton, the Ambergate,
Nottingham and Boston, and the Stamford and Essendine
Railway Companies, as they contained clauses very inimical
to your interests. The bills of the two first-named com-
panies have been rejected by parliament, and the clauses
objected to struck out of the Stamford and Bssendine.
Tne bills promoted by this company for the construction of
the Leicester and Hitchin Railway, and for the conversion
of the debenture debt of the company into preference
shares, or annuities, have received the royal assent; but
the bill for the amalgamationi of the company with the
London and North Western Company has been withdrawn,
in consequence of the appointment of a select committee
of the House of Commons, which advised the house not
to allow of any amalgamation this session, and which has,
since reported against the amalgamations of very large ,
companies. It will be the business of the meeting to '
eboose five proprietors, each possessing 2,0001. stock or
shares in the company, whose duty it will be to meet in
January next, to select and recommend to the half-yearly I
meeting in February a suitable person to be appointed
auditor. The general meeting will be mule special for
the
_purpose of creating capital, for the construction of
the Leicester and Biretta Railway; but the state of the
money market does not at present offer sufficient induce-
meats to proceed with the creation of preference shares'
for the extinction of the debenture debt. The directors
will, however, avail themselves of the powers which the
act confers when they may do so with adeantage to
your interests."
*After some discussion, the resolutioa for the adoption of!
the report was carried ; as were also the attendant resolu-
tions declaring the dividends on the various stocks ; and on
the motion of Mr. BARROW, M.P., five gentlemen were
named and elected to arrange the audit ler next half year.