The Express.
London, England, 1848-02-15 00:00:00

Total /214076 6 1

4.
Maintenance of way 9,727 of Una
Repairs of stakes...—. 81,1 MI 1 4
Coat of gas
----- 2,136 14

A id.

Engineers' obey and inspector's "
.6616 373 6 4
11,633 1 3

Locomotive power—
Worklag engines 11,752 5 1
Repairing amities 15,225 12 8
Cote for engines • 19,243 0 2
Engineers' salary and inspector's
wges V3 0 0
a
46,693 17 11
Crisch and waggon repairs and alterations
Coaching. inelmling mimics of clerk; wages of porters
and 'talent. elm his', Morey, 1ke.13,453 3 1
Goods—Selories, wages, hone hire, sures, &c.
Electric telegraph
(Am Charges- Marks W onager, secretary and
elate, in the audit, stores, and Loudon offices 1,317 19 0
Direction and auditors
1,722 6 8
Stetientry, advertising, and printing L3I3 10 0
" charges
..mm
203 12 2
546 2 8
459 2 4

I Or on

Tigei told

Law charges

'Compensation
Ac., ramps
Hero and Nat"
borernineat duty
Toil to the South-Lagers litallway Company .....

'Working (!xpensel
3,07 S 1 11
746 $ 0
9,990 13 1
9,303 3 1
3,91$ 19 2

119,886 6 3

rlebenture interest
103,459 8 4
Diapauble balsam - 131,189 16 9

Total t221,0111 1 2

APPROPRIATION OF BALANCK OF RRVINUE ACCOUNT.
CAPITAL. 11•LIT.TAADI DIVIDEND TRADMON.
On Ratak. ... 44,129,24 13 Pat 1 per et, per lan. ..... £81,680 18 4
Croydon 7 ..rfiird. . i 398.24 00.. 6 .. .. • • 9,914 14 4
.. B Rienths •• 2070 00.. 3 ~ , 73 0 0
^ g Pmferl 1er),913 68., 6 .. „ .
PA . 4,011 18
~yI Do. 1 83.000 00,. 5 .. 0114. 3d. per 111. 1,109 10 0
„V d Death.'i 1'231.337 00 „ 1 „m Ina Bd.„ 6,188 4 3
X 3/ pai

X.5,0‘.1,277 0 0
*. Ilel*"'".°) 1' 500.540 0 0 Inkreat
MIA •• i

£103,037 5 .1
. 27,730 10 5

L6.51:2,325 0 0 3131.1.7d7 12 10
tieta:as to be carried to the half.')
yef.e mho( June 30. 1134 e 423 211

2.11,199 19 9

The Chairman said—ln consequence of what rased artine-pre ithus
meeting, of winch this is an adjournment. I do not prnpose to occupy
year elms with any lengthened statement. I coatiWd that the pro-
="to Justify the feeling of hostility to the board they mani-
7::n that oertudtm, must have wale grays charges to make
against the dirrotora ; and It to with the view of courting the tallest
inquiry into their oonduct to all respects, and with the desire that
entry proprietor dull leen this room ratieffed, that 'heed affair.
hoe been managed, at least with honour and with thtegrity. that I '
now sall upon any proprietor to state any and what charge. he has
to make against the directon, together with the grounds upon which
such elutes rest, and it will then be my duty, and the duty of my I
brother director., to give him such explanations am shall exonerate
ourselves, and make him acquainted with the exact condition of his
affairs_ Withholding, therefore, roe the present, all further ohaerea-
pone, I wilt merely move, that thin report be received and con-
Armed.-11r. Pi.esons (the deputreharrimui) having seconded the
motion--
Mr. .It sham mite to sutcnit an aznendment. He said that front
the high character and iseition their chairman held In the conuner-
nal world, he anticipated nothing lees than the declaration they had
just heard, and seeing the feeling with which it was likely to be met,
be had no doubt that the amendment with which he should conclude
would eremduce to the general lutenist of the company. The first
thing that struck the proprietors in this report, and in looking over
the accounts, was the great decrease of the dividend for the last bait
year, while out of door they found an enormous depreciation in the
value of the share*. There appeared looaan enormoue Incense in the
working expenses of the company ; and far from any disposition on
the part of the board to put an end to the capital account, It was pro-
puma to increase it by • large subscription on account ot the Ports-
mouth direct line. If the dividend was now but four per cent. for
the most profthrble half year, they could not but expect a further re-
duction for the next half year; hut the decree:. in the value of shares
had gore far beyond the falling off in the traffic—the one was forty-
two pet cent., while the other woe only from ten to twenty. He
complained also of the eat Munn in the working so-
' pewee. In the corresponding half year of 1844, the charge
under this had was 311 per cent; In 1815, 30(; in 1848, 384;
which in 1847 they had increased to within a fraction of 47 per
treat. In the item of coke, the charge for the half-year endln
18 west 101381. • the lag half-year it was 5481 or 1
neerly double.4Es The Brighton Company wax paring 64d. al9, mile., for
echo while a nelghbounng line, aimilerly circumstanced and having
iprecitely the same ditlkultier in the way of getting their supply, paid I
only 4d. Surely there must to something radically 'wrong here.
Abe email returns from the goods trdto struck him as rernartoble,
especially when compared with the South-Eastern. During the last 1
Ike weeks the return far goods on that hen was 8,9581., white on the
Menus tt was only 4,7321., there being an moats In mileage in the
former of leas than 20 miles. He now came to one of the worst tea-
tuna in the report, viz., the subscription le respect to the Portsmouth
line. Ile looked upon this ee one of the worst features, because it
that there was no &smitten to decrease the capital amount.
how enormously that amount hod gone on itereameig. In Dm I
amber. 1045, it was 3,098,1.001.; in 1345, after the amalgamation, it I
was 4,922,0001.; and in 1847 it amounted to 6,760,3831., braider, con-
dderable some which the company bad still the power to raise. It ap-
peered, 1n fact, that there was all actual deficiency in the capital amount
amounting to 78,741. With regard to tide Portsmouth line, ton, it I
was clear the abject was to make a third line into Portsmouth, thus
eompetiag not only with the Routh Western, but with the Brighton
and Booth Coast There might be eircumet noes justifying this, but
at all events it was a enhject for inquiry. Then as to the arrange-
ment with the South Postern, upon which the director. congratulated
thenteelvee, he could not conceive on what grounds. It appeared to I
him that that arrangement, like the purchase of the Chicheater and
Portsmouth line, and the amalgamation with the Croydon, was all in
Inoue of one aide, and that aide not the Brighton Company. What
was the effect of this arrangement with the South Engem? Tin
Brighton Oampany were to give up an increming toll of between
ii,oool. and 12,0001., for Ave urn of land, the used the Bricklayers'
Anna Station (which was a most inconvenient spot), and • claim rf
23,0001. which the South Eastern Company had against the Brighton,
me next point he would advert to was the general management ot
the line. It was the duty of the directors to appoint as managers
ouch efficient officers no the public and the drivers should have con-
lideseat in; be' it mold not be denied (and the rumour was in every
mouth) that there were great doubts existing as to the competency
of the present managers. And when he found so large an increase in
the witting expenses, and at the same time public meetings held at
Croydeta, New Cress, and other Mecca, complaining et the incon-
venience to which the publia are put the shutting up of
one elatitm and the opening of others; and when they
found the subordinate officers dismissed from time to time, without
notice or explanation, he thought mime inquiry
.win nesteatary.
What be poop reed was, the appointment of • atimmtaston by whom all
these matters should be investigated, and ho maid now move as an
amendment "That the report be received, end in much an as related
to the dividend be conlirmed. and that a committee of five shareholders
be appointed to investigate the accounts sod Wain of the company,
and report thereon."
Yr. Flood seconded the amendment, and iiimplained of the alters-
doss nada In the Wee. He believed monk at the difffeultlea of the
emapeay ear to ha attributed to the notes dhow farea—The I:bair-
nn was doe say to way they were at the mealistam rate of tares. It
111111 Sk baportaut circumstance soseosird with railway leale-
lettee, and one for which the lapilature ekes was
raeworablo, that emery tr, eh ap34tathea for teerathat at
teeemeary to complete a meth limo wee suds a
=l°tC the topaatty of parliament to pit Valk heads Into the
prises K tehwey It eels posdbis hoe hereafter all
he eoli
maw, th Upon to make ameemot seem kw
as p .
ripmew.r • realisa of the tariff which the Weeks
oafs porthmset had Wpm& egos then,. It was MIS: Islay
adatlee mmorelly ipso Shalt shoulders to the .to permat
;Plied ihstot Pir.re'labithelsi kli:mblibilmatirk:flag blamedesatritiaitereduellouchata"Plasoyrael. 1111ith011 1•412111aeom•th.
.lit tho theardwoW at the report NA the waseeis.--
brim yodel that - daring the previous /Mfrs, the .
alp dee teas reeMeed at Mitirma times 1.011 Weems win nag
sMibs Whole of It for the half-ycht. Hat this kalf-year
ks reatimal, but Ilan of Oldie* had We polo off 1
WI the . letereol had beta. ohoreee.—The amirmln missarke •
thither direttorsisZe and.w.,ere feittellngstild to sap- •
itr" I.llpit. ssermktm :it;thc.".ererthe
• maraltifid *MO emus sad Makatea! AILNIIZIOI
erseeldeste teethe tato.-11r. Met : lor
saber t that thr Omens Worded to hit that Willa 1 sheath
aeftwril mid rep ward tepee& montithe merrtiamth-,41r. Dm 1
.othareed ties hem priestly reported sweet dis reelost ash.
*tem thst bad Wallas tho vas tho panhasa of he
Miiffigglingielblete: • 011ereuer be taw* he lairla waked.
At
.... Valle. tals ang she &esters le aram after •
. la north, to the Chlehrater
11:14.
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