The Express.
London, England, 1851-03-25 00:00:00

BRISTOL, Mae‘ 24.

STOCIL EICIIANOIL—The market was tolerably active;
the oeh ntri•tii.ns in waken were in Great Wf stem% *..• 171. oharei
which left off at 2i dn. ; Vas of Ninah, du.; sad TA! rtga
Quarter-abuts, at 40.

FLEETWOOD, PRESTON, AND WEAT RIDING JPNC-
TlON.—Yesterday, the adjourned half-yearly meeting was
held at the Town-hall, Preston. The committee appointed
at the last meeting reported the failure of their negotiations
with the Longridge Company. The report concludes thus:
Although we have not thought it requisite to inquire mi-
nutely into the affairs of the Fleetwood, Preston, and West
Riding Company, owing to the failure of our negotiation
with the Longridge Company, yet we have satisfied our-
selves that the best course now to be adopted is to shut up
! the line at once, to lay out no more money in any shape, to
sell the rails, sleepers, forfeited shares, mod everything else
available; and with the proceeds to pay off the debts owing
by the company that have been legally contracted; and
thus to close the concern entirely, until such arrangements
can be effected with the Longridge Company or other par-
ties, as may show a fair prospect of some ultimate advan-
tage to the Fleetwood, Preston, and West Riding Company,
without making any further calls. In conclusion, the
committee strongly recommend that a eommittee of share-
holders be appointed to co-operate with the directors in
carrying into effect whatever course the meeting might de-
cide upon adopting, for the interest of the Fleetwood, Pres-
ton, and West Riding Company. On the motion of Mr.
Greig, seconded by Mr. Newberry, the report was received,
and a shareholders' committee was appointed accordingly.

CALEIX)NIAN RAILWAY.—The report to be pre-
sented at the meeting on the 28th inst. :Minds the following
particulars:—The increase of gross traffic of 1850 over 1849
is if, per cent. The average cost of working expenses for
the whole year 1850 is 53 per cent.; but for the last half-
year, from June to December, 1840, it is only 48 per cent.,
including rates and taxes. The diminution is attributed to
various causes—to the general economy which has been
curried into every department of the company's affairs, and
to the fact of ordering stores by tender, and making all
payments in cash. In the above computations no charge
for parliamentary, law, or other extraordinary expenses, is
included. In so far as the works are completed, the line is
in an efficient state. The rolling stock is also efficient in
condition, but inadequate in extent, in so far as relates to
the goods traffic department. The half-yearly accounts,
however, show that the directors have expended such sums
is improvements on the line and in additions to the rolling
stock as their funds admitted—thus Expenditure cashed',
buildings, sidings, and other works on the line, and at thu
stations, for half-year ending 31st December, 1850, 6,842/.
18s. ad. ; ditto in addition to rolling stock, in engines, waggons,
carriages, &e., chargeable to capital account, 5,1901. 4s. 4d.
Arrangement& with the Edinburgh and Glasgow and tho
Glasgow and South Western Companies, and also with the
various lines, southern and eastern, forming the two great
I chains of communication with London, have been made,
by which competition at unremunerating rates will be
avoided. The financial condition of the company is thus
stated :—The revenue from traffic, as already stated,
amounted fur the whole year 1850 to 150,9601. Is. 2d.; add
rents, interest on call arrears and transfer fees, for the same
period, 4,9191. 3s. 9d.; total, 155,9091. 4s. 11d. The deben-
ture and other interest on debts due by the comproany for
the same period was 86,9921. 10a 7d. • feuduties and gund
annual, 9,32 a/. ss. 3d. the nett balance was thus 59,0901.
As. ld. The annual amount of guaranteed and preferential
claims on the company, according to their statutory rights,
is 162,3701. • the free revenue from the Greenish line for
the year ending 31st January, 1851, was 15,2421. 14s. 7d. ;
the free revenue from the Barrhead line is esti-
mated for the same period at 3,5001. Balance to
be provided by tho Caledonian Railway Company,
113,6271. ss. sd. ; but as its nett revenue is only
59,5901. As. ld., there is a deficiency annually, by this show-
ing, of no less than 84,036/. las. 4d. In the above, although
interest is charged ou part of the flouting debt, no provision
is made for payment of the 400,0001. of principal, which,
however, must be provided fur before any profits can be
divided. Such a deficiency (rays the report) affords self-
evident reasons for pressing for the modification of the
guaranteed and preferential claims ; and, however justifiable
it may be on the part of the owners of such stock, to main-
tain and vindicate these claims as legal to the full extent,
practically it is maintaining these claims against an impoi,si-
bility, where such a deficiency of revenue to meet the claims
exists. The report thea goes on to detail the legal measures
adopted by the guaranteed shareholders against the com-
pany, and also to describe the negotiations with the gua-
ranteed and preferential shareholders.
EXTENSION OP THE ELECTRIC TELEGIL4PIL—A
memorial to the chairman and directors of the London and
North Western Railway Company is about to be submitted
to the merchants, manufacturers, and the public of Bir-
mingham for signature, praying that the New British Eke-
trie Telegraph Company may not bo debarred from carry-
ing their wires along the lines of the above railway, the ex-
clusive use of which, it is alleged, is sought to be secured by
the existing telegraph company. Memorials in favour of
the free use of the London and North Western Company's
lines of railway for telegraphic entrooses, as most conducive
to the interests of the commonlal community and tho
public generally, have been very numerously signed in all
the cities and towns in the north and north-west.—hisis's
Birmingham (Matte.