The Express.
London, England, 1846-11-07 00:00:00

/udder--
Do. Extension.

Hull and Selby.
Do. 4shores
Do. J shares
flaw.. Barg!
Do. Do. AI
Lancaster
Do. New
Leeds and Bradford.
Leeds and
Leeds, Dew
Leicetler 4.
Letecs.4lisn
Li.. Man. & N. • .....
London & BlackwalL.
Do. New
Lund. Brighton, °
Do. Do. Fifths ~
London Croydon .
London. Grersioich)
London &N. IA
Do. itharcs
Do. New oh,
Do. Fifths..
Do. Eighths
Do. E. J sh.
D0.401.5k,
London ¢ S. I
Do. Newt'
Do. New
Do. New....
;London & Ift
:Lon., Balis.,
ILmobary.#
Lynn and Ely
Lynn and Dereham
Manchester, Leeds...
Do. 4 shares

LONDON.—GREAT WEBTEEIr RAILWA T.—AOREZ-
KENT wise rue Sovni Watt's Coirearer.—A special general meet-
ing of this company was held at the Paddington Station yesterday,
" for the purpose of considering and determining as to the expediency
of working and taking on lease the South Wales Railway by the Great
Western Company. The usual formalities having been observed,
the Chairman said the meeting had been convened for the purpose of
submitting to the proprietors an agreement which had been entered
Into by the directors of the South Wales Railway Company end the
Ore .t Western Railway Company, the terms of which hail been cir-
culated among the proprietors. The leading principles which had
guided the directors in *liming that arrangement were , First,
that the construction of the South Wales line should remain under
the charge and on the reeponsibility of those by. whom It was
undertaken.; secondly, that, after a certain fixed period, that
line should be placed in the hands of the South Wales
Company, In order that the proprietors of that company
might reap the advantages to which they were justly entitled, trm
the undertaking in which they had embarked; thirdly, that, la order
to facilitate the completion of that line, they should endeavour, by
some means, to give to the sharesof tha! company ouch a certain and
fixed value as would ensure their obtaining money for the purpose
the rapid completion of the works ; and, lastly, that these purposes
should be so arranged as not to impose any large or unreasonable
respondbllity epos the Great Western Company. A long and difficult
dioeussion had ensued, bat throughout all the modifications whkb the
arrangenmen mumed, the directors invariably kept all these prin-
ciples in view. The 'gorge and responsibility of completing the line
was now in the hands of the South Wales company ; for the Great
Western lease was not to commence, they were not to Cave any con-
cern whatever with the South Wales Company until its main branches
should be completed. The comeseion of the branches which might
ultimately result from the oonstsuction of the line, was *reared to the
South Wales Company by an sisalgaination with the Great Western
Company after the expiration of a certain time, when the reel value
of the line could be ascertained, not on any doubtful and speculative
data, but on the actual experience of at least ten years working of the
line. The third point, that of giving a flied and permanent value to
the shares of the South Wales Company, had been secured by means
of a guarantee on the part of the Great Western Company. The direc-
tors proposed to guarntea to the South Wales Company, from the
completion of their line, S per cent, for the first five years, or till such
period that the Great Western Company should have been entirely
reimbursed by the working of the line for the whole of the interest
which they should have paid to the South Wales Company. From
that period they proposed not only to guarantee to the South
Wales Company 5 per cent., but also to give them half
the surplus profits for the remaining portion of ten years,
and at the expiration of those ten years, and when two
yearn of profit surplus of five per cent. should hove reseed, then the
amalgamation was to take place. As the amalgamation was not to
take effect until the company should have been In the receipt of profits
exceeding five cent. for more than two years, practically it must be
held that the agreement was equivalent to a lease in perpetuity Mat
least five per cent. These terms, it was hoped, would be sufficient to
enable the South Wales Company at all times to raise the money that
they would require, and to secure the main purpose for which the
Great Western directors entered into the agreement, via., the nom_
: pletion of the South Wales line. The directors did not propose the
arrangement ae one from which any large polite would accrue to the
Great We/tern Company out of the profits of the South Wake
line itself, though they did not think it would in that paint of view
be disadvantageous. the profits for which they looked were thaw ;
which they should reap on their own line from the completion of so
valuable a tributary. The agreement with the South Wales Com-
pany would accomplish that object, and at the same time
pee a line which would be most valuable, as passing through
the rich mineral districts of South Wales, as opening a new and im-
portant communication with the south of Ireland, and as constituting
another excellent tributary to the Great Western. The Secretary then
read the report, which was in substance a repetition of the Chair-
man's speech. The Chairman moved—" That the report be received,
adopted, and printed for circulation." Mr. L. lieyworth, of Liverpool,
in seconding the motion, expressed his approbation of the principle of
the agreement. Ile also expressed a desire that the legislature would
determine that no capital invested in future in the cons-ruction of rail-
ways should yield a higher profit than 3 per ct.; the guarantee of which by
existing companies would, he said, be sufficient to secure all the railway
accommodation required by the public. If the country had lent to the
government 800 millions at 3 or Si per cent., how much more easily
could the same amount be obtained, if necessary, at S per cent. Ex-
isting companies haring entered first upon railway enterprise, stood in
a different position from new companies. The motion was agreed to.
The Secretary then read the beads of the °visional agreement.
The chairman proposed a resolution confirming the agreement (al-
ready sketched in his own speech), which was seconded b Mr. I. K.
Smythioe. In reply to a question from theseeonder, the said,

that until the Great Western Company became entitled to share in pro-
fits, the fixing of the force would rest with the South Wales Company. Ile
also gated that the agreement in no way affected the Vale of Reath
Railway. In reply to a question from Mr. Alston, the chairman said
that the line would be about 200 miles long, and that no portion of it
was actually made at present. The works in pngrees were In the
neighbourhood of Newport and Swansea. It would probably take about
four years to construct the entire line. After a desultory conversation
the motion was carried unanimously. The chairman lotlmated that
Mace the agreement was made between the two bodies of direc-
tors, several influential proprietors of the south Wales
Company had thought that it was extremely desirable
that one of the conditions should be modified, and that It
would be more advantageous to the South Wales Company if, instead
of haying an amalgamation at the end of ten years, they had a gua-
rantee of 3 per cent., with half the profits continued in perpetuity.
The advantage of the alteration would be that of giving eves a more
permanent and fixed value to the shares than they now peeress. The
agreement would then be, guaninteed perpetuity of 3 per cent, with
the chance of a moiety of the purple. profits. The chairman pro-
posed a resolution, which was seconded by Mr. L. Ileyworth, and
carried, reserving to the directors power to make the alteration re-
ferred to, after which the meeting reparated.
SOUTH WALES RAILWAY.—A speeial general meeting of
this company was held yesterday at 449, West Strand, to consider the
proposed arrangement with the Great Western. Mr. Louis rigurs
presided. The directors stated the nature of the agreement (the par.
ticulars of which are given above), and recommended its adoption.
Several proprietors expreseed dissatisfaction at the proposed agree-
ment, having been Induced to buy shame at a premium under the ex-
pectation and with the guarantee of realising 10 per cent. at least for
their money; neither did theybelieve such an arrangement necessary,
feeling sure that the scheme would pay far better as an independent line.
The Chairman called' attention to the fact that any guarantee meet
be to a certain extent a matter of speculation, while here was a cer-
tain offer of five per cent., involving no doubt or Hid: whatever. Nome
discussion ensued, and Mr. Thome, and another proprietor,
i reposed amendments, which, however, were not put, the gene-
ral feeling among the shareholders appearing in favour of the pro-
posals. Mr. Thomas at length signified his own acquiescence, pro-
vided a clause was Introduced allowing to the wlnPanY five per cent.
on all calls. The chairman said that the attention of the directors
should be given to the suggestion, and the object gained if possible.—
The report, and resolution confirming the agreement, were passed
unanimously, and thanks having been voted to the chairman, the
Ina separated.
PROVINCIAL.— EarrEarr Courfnes. —Considerable 1
improvements have been carried oat along the line of the Eastern
Counties Railway during the last few weeks, while there are some in
the course of completion. At Lea Bridge and Tottenham Stations, a
width of land has been excavated, fur the purpose of laying down
more lines argils At Stratford, the new station, which is to serve
both for the Essex and Cambridge trains, is nearly finished, and at the
Tottenham Station, the pens for the cheep and cattle are completed.
Recently boards have been put up at a short distance from each
station Inscribed with the word" whistle," in addition to other boards
which have for sone time past been fixed on the up line, directing
the speed at which trains are to go.
THE SOUTHWESTERN AND BRIGHTON RAILWAY COM-
PANIIII have settled their differences with regard to the Direct Porter
mouth line. An agreement was signed on Tuesday, the following
being the substance of the terms : —An Act is to be applied for next
session by both companies to give them a joint interest in the Direct
Portsmouth from Dunking to Portsmouth. But from Dorking to
Epsom the line is to be vested exclusively in the Brighton Company,
including the south coast line. The Brighton Company's traffic is to
be admitted with every facility from Wandsworth to Waterloo-bridge
on the South-Western line. Whatever is to be paid for the Portsmouth
line, in premiums or otherwise, is to be borne jointly by the two com-
panies, the Brighton and South-Western.

BERNTISLAND PIER AND FERITIE9.—At the hal-yearly
meeting of the Commissioners of Supply of the county of Fife, held at
Cupar, on Tuesday last, it was re•olred to oppose the bill about to be
introduced to authorise the sale and transfer of the pier and ferry of
Burntisland from the Duke of Buccleuch and Sir John GLalstone to
the Edinburgh and Northern Railway Company, union a sufficient
security be afforded in this bill that the accommodation of the public
will be properly attended to, and other arrangements made to the
satisfaction of the Commissioners of Supply for remunerating the
trustees of the Burntislaad-road for the whole or part of the expenses
of constructing that road, and in ether matters connected with the
proposed repeal of the 122nd clause of the Burntisland Granton Pier,
Ferry, and Road Act.

NEWCASTLE AND BERWICK RA ILWAT.—TWEED BRIDGE.
—The directors of the Newcastle and Berwick Railway, at their meet-
ing on the sth instant, resolved to defer building the bridge over
that river, to join their line with the North British Railway, it being
extremely probable that the Berwick Railway will not cm.. the Tweed
at that point, but will run ou their Kelso line for nine or ten ndlea,
and then crow the Tweed, at only about one-tenth of the cost, and
thence proceed by a new line direct to Edinburgh.
FORElGN.—Bgaux.—The traffic upon the Berlin and
If smburgh railway, from Oct. 15 to 24, yielded a total sum of 7,695
rix dollars, the number of passenger. being 8,704. Considering the
incomplete state of the line, and the unfavorable weather, this result
was regarded as very satisfactory.
BUSINESS OF THE ENSUING WEEK.
(From the Railway C9tromick.)
MEETINGS.

Fast Comd—Nov IS, London ; Eastern Counties—Nov. 12, Loudon ;
Pompous and Ilarlebrouck —Not. 14, Paris ; London, sansbury and
Yeovil—Nov. 11, London; Newmarket and Ctiesterford —Nov. 11,
London; Paris and S rasburg —Nov. 11, Paris; Tours and Nantes—
Nov. 9. _ _

TENDERS FOR LOANS.

Cockermouth and 14oridritin;-:Sum.7 not leas than 2001., for 3,
5 or 7 yearn, at 4i per cent. per annum, payable half-yearly; Edin-
burgh, Leith and Granton—Stuns of not less than 5001., for 3 years, at
4 per cent. ; Lynn and Dereham --Sums of not less than 2001., for 3
or S yearn, at 5 per cent. per annum; Manchester and Leeds—Sums
of not leas than 1,000/., for 3, sor 7 years, at 4 per cent, per annum,
payable half-yearly; Lister—Sums of not less than 1,0001., for 3,
5, or 7 years, at 44 per cent. per annum.
CONTRACTS.

Buckinghamshire— ExecutiOneiiwor h;, Nov. 11; East Lincolnshire
—1,700 tons of iron rails, and 600 tons of iron chairs. Further infor-
mation may he had at 13, Abingdonutroet, Westminster ; Edinburgh
and Northern—Railway waggons, Nov. 11 • Irish South-F.astern
(Carlow to Kilkenny)—Execution of Works, Nov. 13; Leeds and
Think (Ripon contract)—Execution of works, Nov. 12 ; Midland
(Bristol Branch)-10,000 sleepers, and execution of works, Nov. 9.
DIVIDENDS.

Aberdeen-4 per cent. per annum on calls paid up—Boulogne
and Amiens-9s. 2d. per share on calls paid m Oct. 2t Sambre and
Meuse-3 per cent. on the paid-up capital for half-year ending
Sept. 30. Vale of Neeth-5 per cent. per annum on culls in advance.
York and Newcastle —6 per cent. on the money celled up on the new
shares until the completion of the Great North of England purchase.
York and North Midland-6 per cent. on the money called up on the
new shares until the completion of the Hull and Selby purchase.
CALLS.
_ _

Belfast and Ballymena-21. 10s., Nov. 9; Cork, Bbickrock, and
Pa sage--11. Ss. per share, due; Dieppe and Fdesznp-21., Nov. 10 ;
Dundalk and Erutiskillen - 21. 10a., Nov. 14 ; Dublin and Belfast Junc-
tion (Navan Branch)-21.10a. per share, due ; EasternCountbs (York
Essen.)-11. 10s. due; Edinburgh and Northern-21.10a. on the 231.
stock, Nov. 9 ; Ely and Huntingdon—U. due ,• Fampoux and Hans-
brouck-21. due; Glasgow, Palaley, Kilmarnock, and Ayr-31. on the
41f. shares, November 12 ; lluddengeld and Manchester Railway
and Canal-2f. on the 301. shares, due; Irish South-Eastern
-10 s. on the new shares, and If. on Wexford, Carlow, and Dublin
scrip, due; Lancaster and Carlisle, M. due; Londonderry and
Coleraine-21. 10s. due; Londonderry and Enniskillen-21. 10s. due;
Midland Great Western of Deland-21. 10s. due; Namur and
Liege-21. due; Newcastle and Berwick—St. due; Newmarket and
Cbosteriord-21. Bet. due; Richmond-31. due; Sambre and Meuse
—2l. due; Scottish Central-101. due; Scottish Midland Junction-
-21. 10s. due; Sheffield and Lincolnshire Junction—lf. Ss. due;
Wilts, Somerset and Weymouth-51. Nov. 13; York and Newcastle
--41.2 on new extension shares, due.
DEPOSITS RETURNED

Cork and Ferrnoy-10s. per share; Dartmouth. Brishant, Torbay
and Exeter-2s. 6d. per share; Derby, Gainaborough, and Great
Grimsby Junction—ba. per share; Dublin, Armagh, and Inland—
Deposit, less expenses; Enniskillen and Sligo-12s. dd. per share;
London and Oxford— 2s.ppeerr share; Manchester and Southampton-
15s. per share; StaMttdebire and Shropshire Junction —l2s. 6d. per
share; Templemore and Nenugh-13a. 9d. per share; Warwickshire
and London -Full deposit.
SIGNATURE. OF PARLIAMENTARY CONTRACT.
_ .

Derbyshire. Staffordshire, and Worcestershire Junction—Now In
course of signature at the company's edicts, 1, Queen-aquare, West-
minster.

TRANSFER. BOOKS CLOSED.

Stirling and Dunfermline-7111 No►. 18; Waterkali and Kilkenny
—Yr= Nov. II till Nov. 23.
Try' WEEKS
1846. (From
1346. lr

Taut= for ararar
1843 and

Arbroath k Forfar f
Chester k Birkeu ...I
Dublin k Drogheda

Dundee &

& ,under.
East Lancashire ...
Eastern Counties...
Eastern Union .
& Glasgow
01m. Paiel. & Ayr
Ghia. PaiAl.&Grn.
GLSouthn.&Westn.

H artlepool
Las. & N. Western
Do. & &adman
L. &righted, &e.
Do. &S. were W
Manch. & Leeds

TO BSI WAY PIM"

roase.—Ocr. 1 ro 21.—Reihsegia-..—Z.- M. Fold Oct, Paris; tar lens
provemente in railways. M. F. Milan, Pars; for improvement. in
making roads and ways.—Carriages.—S.Houldsworth, Surrey;
for certain improvements in apparatus to be applied to railway car-
riages, to prevent accidents thereon. --Fareares and Flotes.--4.
Kite, Horton; for certain improvements in steam engine', chimneys
in furnaces and Sues in vent and exhaust pipes, and in otheireZ
I/MP sad air conductors, and in machinery connected therewith.
Fairbairn, Manchester; for the improvements in
IMO nonstruction of iron beams for the erection of bridges and other
allgontarea.—Propadmien.—E. Southwark, Medlock ; (or certain lin-
pearements in engineeepplicable to propulsion and other similar pur-
pose. P.Struve,Swanicur for improvements in railway transit, and in
mein or Wig —Lasspa, Oil and Gas.-0. Lowe,
Lifieerne, finrisaameniMa in the manufacture of, and in the burning
calm milk mannlastare of fuel. S. Heseltine, Brontk7 ; for
In the construction of lamps to burn °IL—
I/heels ZWrisTeasn... Heath, Lancaster; for certain improvements
la Be. candrimelion of wheels, axles, and bearings, to be used upon
nand aim road; which improvements are also applicable to gear-
kigia ameaL—lstproreeenits, Grwerel.—F. Durand sad O. Pie-
ces/sr, Pada; for improvements in forming leather into tubes, eylin.
den, minim endocher articles. J. Conde, Olso uw; for improve-
ments In saidshiery in making malleable iron. J. Farnsworth, Sher-
Seld; 1k Improvements in machinery in making bricks and tiles.
P. 4.1.. Irmatilmnireati, London; for certain improvements in oh-

taniDg M

saga ending between Oet. 29 and,lov. 3,
[From Me Railway Clerunick.)
1845. ! 1646. IBIS.
R206.51=& C— C-
-593' 51
761, Newe. and Berwick 541
1344, NewerUe& Carlisle 2405 1646
3091Norto&
773'North British ....
Preston & Wyre
6695 field & Mane 1762 1240
Swath Devon 362
2349 South-Radern
1896 Taff Yak 1 1214
601 Maier 62 702
York and New 5956, 5549
16,747 York It N. Midlan 6226 5290
1323 rowan RAILWAY&
36,162' Nertbern of 9535
61110 fins. &Bor.(lat S.) 104
6645, Paris aad Orleans 6600 6590
6563 Paris and Rouen
8213;Straaborg & Raab 10,231