The Express.
London, England, 1848-08-23 00:00:00

RAILWAY

Towards the latter part
market wu more active,
maintained. The result of I
pang's meeting wu encourall
better and more in demand.
1.18T.—L4
Hors—Tbs et Hot. in 1
tra&lartunas: Wave of lum

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50

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1141 Antes
24 D0..01.1 Preform
3, Do. tlyd.sdak.ln
llNVeted
16 Do.Profervose
ine.itwelltVi. Jane.
•ou EAR 13511.&6.&1.&L
16 Do. WU. A. & 11.1.
3. Do. (31.104.),146C1V1
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34 1,. 1.411. & b Ork
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70 Do. ND.
34 Do. do. Mier. t;p.Ct
36
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301 Uns.. 11M1M.16, Pd.
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M EET I 1403.—L0v DON AND BLACKWALL.—HaIf yearly
Mewing.—Gordon, Aug. 22.—Mr. J. N. Daniel in the chair,—The
directors' report stated that the net balance on the ?cyclone account
amounted to 5,4651., which would admit of the payment of a
dividend of Is. Cd. per share, clear of income tag, on the
40,000 original, and the 24.000 new shares No. I, which
are now entitled to participate in the profits of the undertaking.
The sum than applicable to the payment of a dividend was larger than
on any previous correeponiliog half year, enabling the directors to
propooe a dividend equal in amount to that paid at this time twelve-
imlai, although the number of shares has been since that period in-
crewed by one-half. Thin result was attributable to the beneficial
op- rattan of the conversion of debentures into capital, by which a
liege an.l permanent reduction is made to the annual expenses. The
, comparative passenger traffic during the first six months of this and
of the last year wen, in 1047 1,359 022 juseengere, amounting to
22,9681. 15e.; in 1849 1,273,969 passenger., amounting to
22,022/. 17s. 10d. The decrease hoe apparent was principally
confined to the kcal traffic; the subject had occupied the
boot attention of the directors, and they considered it as-
signable to the continued depreosion in commercial Ohne.
In the ()esteemed traffic there bad been an inereare notwithstanding
the untoward state of the weather.—The hods of an agreement with
the East and West India Docks and Ina mingbam Junction Eailway
Company, had been finally nettled, the directors of that company
undertaking to complete a junction with the extension line, by the
time their own line shall he finished to Camden-town. The &alums in
' the bill introduced into parliament this &initial, empowering the
Illackwall Railway Compaq to make a junction between the two
line., were consequently withdrawn, and that bill in the form of en
amendment net, authorising the consolidation of the several iasues of
shares, and containing power to vary the number of directors, had re-
ceived the royal assent. The directors were still in negotiation wish the
Eastern Dandies Company in reference to the um of the extension line.
In their last report, the directors expressed their hope that no eon-
siderable delay would occur in bringing the extension line into opera-
tion, and they fully anticipated that by this time the wen ha would
have been completed; no effort on their part had been wanting to
accomplish this object. lied such, however, been the cane, the line
could not have been worked to advantage until the gauge on the old
line had been assimilated to that on the extension. The bill autho
rifting the alteration of gauge only received the royal assent on the
22nd of last month. The season being thus far advanced, the direc-
tors thought it prudent not to interfere with the traffic during the
prevent and the ensuing month, and they have therelore determined
to defer clueing tither of the lines for the alterate •ns necessary to the
intro.: action of the locomotive system, and the change of gauge, until
the lot of October. In the meantime, all requisite preparations wit
be made, and the directors have every confideece from the report of
their engineer, that the extension line will be open in No-
vember, and that both the lines will be in full o- eraeiou,
under the nrw system of working, before the close of this year.
The engineers' report stated that the state of the weeks on the eaten-
ion line are now near their completion; the whole of the arching is
finished, and all the bridges, with the exception of those over the
Commercial-road, the Regent's canal, and the Bow-road, are ready
fur the parasite of trains; all these bridge. will be completed in a
month or sex weeks. The embankment from the Bow-road to the
junction with the Eastern Counties is made, excepting about 100
yards immediately adjoining that railway, and this portion is in pro-
gress. The permanent way is laid along the whole line, excepting at
the above-mentioned bridges and etnbanknient. The whole may
be in operation by locomotive power before the end of the year.
By the statement of the revenue account it appeared that the motive
power charges were 5,3911. 84. 9d.; general Daffier charge.,
81471. 7.. 3d. ; miscellaneous charges, 1,0 45/. 19.. 3d. . • goods teethe
charges, 7791. la. Bd.; wharf charges, 1,7904 ts. 5d.; to direction,
5001.; to government duty, 1,130. 1.2 e. 4d. ; to interest on
debentures (leas interest received on loans), 1,600.95. 4d. ; to inte-
rest on new scrip shares (lets Interest on instalments in armor),
9981. 9s. 3d. ; to rates and tones, 1,0391. Or. Bd. On the other ride
the receipts were : Traffic, 23,8601. 19e. sd. ; rents, 176/. 2e. Bd. ;
transfer feels 42/. ; wharfage, 2,3731. Se. 2d. A short oonverattion
took place, in the course of which tho directors were urged to apply
to the parties who were In arrear to pay up on the exten.ion shares.
With regard to some suggestions thrown out by Mr. Abraham, Mr.
D. Soloman and other proprietors, who spoke of the propriety of
leasiug or selling the line to the &melon anti North Western or the
Ea-tern Counties Company, the chairman meted that the advisability
of such an arrangement had not been lost sight of ; but in the pre-
sent state of the railway property it was not to he expect. d that they
could get such a favourable offer from either company ; but every
effort would be made to put the line into proper condition to lit it for
redo an arrangement. The report was adopted. and the dividend
declared due on Sept. 4. A complimentary vote to the chairman
brought the proceedings to a close.
-

BIRMINGHAM ANn OXFORD JUNCTION.—A4Oteetied Spe-
cial liftetaig.—ltirmingbam, Aug. 22.—Mr. I'. H. Mum, in the
ebair.—Mr. Co!more c ailed the att ntion of the proprieto n to their
it-Janina with the Great Western Railway Company. The act for con-
firming the sale of the Birmingham and Oxford lire to that company,
had, with certain amendments liveried by the Lords' committee,
passed the upper houre of parliament. Ile wished to know aht then
the chairman could etatc bow it wan that the bill, with the amended
clauses, bad not been submitted to the House of Commons.—The
Chairman, an well se Mr. Whateley, the ernieitor, stated in reply that
they had no information to all rd upon the subject. They wire as
much surprised as any proprietor could be at the delay which had
occurred—Tee meeting was again ad'inoned until Thursday ; to be
held at the company's aloes, aloe
CALEDONIAN. Meeting of Shareholders. London
Aug. 22.—Mr. Lewis Jacob, of Crosby-square, in the chair.—The
meeting was convened to decide upon the course which ought to be
pursued at the ensiling half-yearly meeting, advertised to be held in
Edinburgh on the 31st lost —The Chairman raid, it would no doubt
be in the recollection of many gentlemen that at a former meeting he
wan appointed to go over to Eilinbui gh to proton gonad the issue of
the preferential shares. Ile did to; but, upon the representation of
the directors, he felt himself call d upon to withdraw his opposition
to that measure, and the shares had since been it Another some
of complaint was the system of guarantees which the company had
been pursuing. Ile made known the wishes of the English share-
holders upon that point, and had pointed out to the board the fact of
nine-tenths of the shereholdere residing in England, which justilied
them in .axing that they should he more adequately repo vented
in the direction than they were at present, and that the half-
yearly meetings of the company should be held alternately in
Edinburgh and London. With reference to the latter eugges-
Hon, the chairman (Mr. 'lope Johnstone) admitted that the
principle wan just, and he teemed to think that there would lie no
objection to holding all important meetings in London ; but with re-
gard to the question of making changes in the direction, he slid not
think it would be expedient to make such a change till the entire
line was finished, which would be in about twelve months. Since he
had been over to Edinburgh he had had his attention drawn to
the circumstance of the directors intending to convert the preferential
shire. into quarters, and place them on the same footing as the ori-
ginal 351. shares. Now, had he been in poneaseion of this informa-
tion at the time it was proposed to issue these share. be certainly
should not have withdrawn his opposition to the measure, but it wan
now too late to renew the protest enabled these pruceedinp, and it
was for the meeting to determine what step. should be taken in fur-
therance of the one object they mist all hoer in view, namely, the
improvement of their property. lie thought it right, however, to
mention before he sat down that he was convinced the board
was composed of men of the highent honour and respectability; at d In
a letter he had received from the chairman, he was told that
it was not their intention tombola any question to the next half-yearly
meeting in teference to the guarantees ; nor did they intend to pro-
ceed with any branch linen without consulting the shareholders at
meetings that might be held in London.—Alr. Tote raid they were
mu h indebted to the chairman for his statement ; but it was quite
clear that the directors were anxious to do the beet they could to meet
the wishes of the Englirih sharetwkiers. U. would, therefore, muted
that the meeting should be adjourned until after the next half-yearly
meeting had been held. lle could at the same time insure the share-
holdern, that if their direction h.d been composed et any other than
local shareholders, the line never could have been made by thin time,
while he was equally convinced that the directors had no alternative
but io mem the preferential shares which had given rise to so much
disvith hie .ion.—After a short eltscasion Mr. Tite's suggestion was
unanimously agreed to, and in the mean time the chairman was In.
sir umed to communicate to the directors tbut it war the elan of she
Yoshida shareholders that no further guarantees should be entered
Into.—The meeting then terminated.

COTTON.—LITERPOOL, Au°. 22. —The market to-day
Hain was very flat, and prim in favour of the buyer. The sales

were
3,000 bales, 230 of which were for to,. t. IRtktert,
!cane, 31 to 31; Horrid Georgia, 34 to 41; Surat', 25.0 to
filAtectt barna, Anti. 22.—The un avourthle de ef la.
weather yesterday and to-day to producing ain effect.. •-•
stet of butiiriem. The home-trade
.hin • e.. a-a be.,
ansiona and are of comae co. erasing wait
eon.equenem arc felt in the dlniiniMeil inquiry for ratio s
WOO of cloth, oils, and the leas buoyant lone of feeling tepido.market to-day. Yarn. are quieter duos they were
end of the week, although no change of prier" mn b. „at,
Continental buyers, expecting to rriiit by tie km o.,"`ti„,
gate of the market, are either ren mning for thi
giving out orders, or offering lower moil, %bid;
are not acceded to. The pcwiten 04 spinners and neuriatara„..',_",
garde. eagsgementa and the email atucka in the make• belt's
lain the prcamit steadiness prices. There it v, ry great fl, °"a'
the d' m.,nd for both goats and yarns for the Indian mar,et. rut!
suitable for Mesion are in good request. For (ii en.anv as the
abort i'vueralruidedit thtoundergapakeeps
them out ouust °fitter in°7lu.kreti.n tie e ponb
rabbi
decidedly change within the neat few day 4314 00 doafe, wk.
nem a much briakar letting, and a greater rice pay,in
orders. As it to, although to-day'. market hatben ciwra
—lllta
by flatness and a want of inquiry, It is sidotattory to b. idik
to rep.rt that no orineersions an price have n submits.; ~
thisly return of the state of employmi iit in thiO eite, sew. .7
to day under the direction of Capt. Whin, thia week
abe, owing. amongst oMer causes, to the voluntary abowlenmen
their work by failiflttil on the. factory mcnti..r.ed m our
t.f Saturday. The figures give ate le,a in lull tone she. su
hands are fully employed, and five more tin full time slit-really ages,
don of the hands are empinyed. Therein coe lest on e, art toy,..
two more stopped altogether. in the total number of hapj..,
played there is a decrease of 1,430; of 1,262 working full time; ad
au increase of 1,731 on short time. In the canna en-I', Mee thm,
are insil fewer handl, on full time, and 40 fewer on y.n sans
The late bad weather has had a depositing influence on the Beodea.
Held trade, wore specially the fancy di parin-cid• blacks, red,
Damsel. and Ducapm, have been thrown upon the niothet in mot
quantities by one My exten,ore hem, at prima tie tattered, ky
that mine of the manufacturers declined nwking yarn until is.,
bemme more plentiful. It Is hoped, however, that the elesedigeg
of ill', description of good; which have been accumulating he
time in the bandit of the firm ailudi.l to, will not I ttg as without
beneficial effect A curious and extraordinary Matsu, .1
reduction of wages in the . trimming trade has tr.:,
been brought unikr our n041...e. The article kr.own
"chain gimp," when it Brat began to he made, abaot
yea, ago, was paid fur at the rate of 34i. per pale of 33 'mkt Th.
proart pi ice paal for making it is one penny p , Inane, The ma
tei.init peke, at the present time, to about ocii,thied
reeking when the article find made its appearance. Thin too h.
been ;adduced entirely by increased des cent' wFloe
workers, and not, as in similar cases of re..ucren, Y> pt.erd
nuichinery. Manchester Eranishrr.
WOOLLEN CLOTHS.—LErnR. Aces. 22.-o,* to
the wetneen of the morning the cloth halls were but Miele atier,..4
either by merchant, o manufacturers, and the Nil, 'Meow.
qoently more linthed than we here roe ratty hal to retard. Ty
drotoo mostly in dymond were beavers and lauds at the better clog.
till. A few lota of tine wool-dyed blacks end w idol blues ay
changed hands, but low priced goods were not much to pir. d after.
ELANKETS.-11Eckm,,NbwaKE, Aro. 21 -lhsre wos
but a very thin attendance of merchants in the blanket hall, this after.
noon, owing to the wet ignite r which percarcil almealmostup ti lle
hour of opening. The weather hen been rely ehowery &lengths
last ten days, which has caused the merelianta to s'acken the u par.
chase., from an apprehension that any ewe in the price of gram woo
slacken the demand for woollen goons.

Preis as LONDON GAZETTE.—Tuesday, Assr.fl.