The Express.
London, England, 1847-08-27 00:00:00

RAILWAY NEWS.

As usual, in the absence of causes specially ex-
citing, we had a dull market in shares yesterday, be-
cause all the attention of dealers and brokers was
absorbed in the Consol market, where the settlement
of the account was going on. There was no par-
ticular change in prices to notice, and of speculative
business nothing was done.
SHARE LlST.—Loxoow, Arourr 26.
NOT I. —The quotation, of 11,c, In Roman dutraciern denote actual
transactions: those of linen In Balks 'Jethro' prices.
1,111.
Lms.,Soliab.4l Y,ecil I OW.
Landsdp.6•Caierainr
Manchwarr r Leedo. 1214 p.
Da.Da tvta= 346 k
Qr.ju. 1
Do. &Omni. I a
Do. Taints I f
Do.Liraptek
21%
Manch., lhatt..kliat.,ll /4.
d•Sorlhainp.l Id.
Midland . .:1 1:5 dad
Ito. 51.f sharp... 444 e d
Du. . Mara. 2 2jp.
Do. him, /.414.4• K 8 1.9 o d
Doe. BrLak IP2I c
In 81.
Nenscastle k Bernkk 2r4
Do. 3icw. 8 71 81
Do. Northiliicas.,
NormNetw. &Cass's:lord
gzt. =
t 4r.
df
Norfolk
110. ki *
D0.&1647N0f AorpfL par
Do &Wareing Val
N. Con WWI Unton . . 3d.
Northern Eantera 16 I• d
Do. err .... .
I North ntaffurdshlre .41
North Wok* . ;21i id-
North n.. 11,11 1
Irofr 10 Od.
Pres!. ond Wyly !37 38
Do. Marrs . ...A 3/ 41p.
Do. .... . B I ip.
Arad. nii..l.;r. ii;o. I
Royston and illlcam par 4p.
dcottish Cuitral 274
i Scullion Midland 3
Srfr., aooste Id. e I
elhrews. k Dir. claseA'l 1 o
Do. do. class 11 11 e
Slinnehlre Union- I
!South .. .
.South gra 'Amid t.'rr 'lt
Mouth Eaden4Dorr,;34s
Do.N. tie 5.321.1 N. 1.19/ 19
D0.N..13.11.84.1 3 Id.
Do. N. (do. MC) 34 Id.
Do. N. idu. Rif.) fsi
douth :9l
S. Vork.Donc.ioooloj
To
Vote Extension 15 0511.
Writ:PAM .I•lfilken.,O rd.
Weal Riding Union .4 ld.
Weal Cornwall .1
Inym. fkl.
Win. Shoat& II n.
York and Newaditle. 144 I e d
Do. Extenslon 1144
Do. Preferoooe 11
Port Midland TS r; o d
Do. Extf • 441 75 e
Do. Prcforenoe . 13
Do.lia.W.Rldg.Nslll
ZAILWATI.I
Arai/168134 14
12 lkd.

PkID.
3.S iAberdeen
18,',=.4ti ii,lai4 iti
8 ./iir. W,4. .1, S. Valk,'
15 'Hien, & Orford Jo. 11
01eillirk.Lan.&(.7•Jstne.
5 1111orton,Statn...2134rm X
75 'Brist/Ma t:reter ld.l
15 1 Drat
Thirds ...
Clinekloginnoldre 144.
40 Caledatlon.
24; Do. 2 aharen -
327) Chester & Holyhead
10trelarenee . .
101 Do.lst(2.,eiej..e 7
10 Do.2d t 7., dyer C 7i'Cormrall ... 6M.
20 Dublin &Belf.Jetstel 1513d.
12211hattla184.1:11soislan
25 . XAn 125/LAXAL&D) 13
li I Do. (18/ E. 4, //.I. 314
1 , D0.13110e. 4.H.1 lit
20 ,Eastern Conritko. .
31 1iz..,L.4p. cy.,:o 11 p:
il Do: Yore Xiten lf
3., Eastern Union. -
1261 Do. S shares
20 lEast Lanahire. 3 24.
10 Do. A",/, 22 12d. 1
14 Do. do. Est. Snip' id_pnr
9 Eat Lineolashtre . wit.
50 EdlnburaTas.lo. NS
5
114 Do. shares . - .L 5 16 I
V Edhab. & DorUsern I,
24 1)o. Nee a. ... . 1
N
11 Do. Do. Nose ;
21 Eseter, Yeovil. Dore. li lid. 27
50 Chug., Kilo. & Ayr 25
6 ,i3rott Northern.. .21 2 i 8
24' D0.4512.Y0rk 'Es) li 1
35 ,Gt. 5' elt & West( Ire.) 8 44 7
100 OL Nth. 01` 0111•04.1230164 8 ii
6 llo. Noe 401 164 o d al
30 is,,. N,...,301. _337 Xed 174
X Do. New. 151. . G7 18p. 10
66 Great Western L26p. 6
b Do. chats 34
21: go': ' rfltg w.
........ : : :1544f. i
7 1)0. New, lit. - 'o4 40 I
111 'Hodder.4lcl4. Mooch 14
331 6 i Do., dd.. Thirds - to.
so .that 111.1 Selby . . in 0,3 . dal)
26 Do. 4 sham ... .26 28n. ell/
122 Do. I 'Mires.
16 44., B. 61. Itdatdr 641. X!
12 Do. dn. & Norwich 644 15
SO Lane. & Carlisle.
10 Du. Thirds .
46 Lecd• and Firnanni 9226 e 4 1134.
leo Leirest. r& H. (lord id par tri,
32 Leeds and north- 10 84. 4
I3l'
Do. Ness .... 9 74. 2.5
Do.Pree: 6prrernt 1044. 4
'Leeds,lh.tes.,3lone.4 ter Ip.
lA,. Mall, ti. N.IIS 2 lid.
2 Lfe.,Crosby.d. Sowell. i ip.
156 London &Blackwell. 6 e d
6 Do. Nese. . . No. 1114. per
X Do. do . ....No. 2
50 Lon. Brighton, 8. Co g i e
20 Do. Cons. Eighths. 3 4. .
A Do. do.Guarsy.C7.
so I lb. Pr/A:m..56.Q. 4041
12ilLondon and Creme.
18., Do. Preference
11111.1.111140 h A N.Wartern IL
12 Do. Quarto. L. t kilt
2 Do. 4o New I
I Do. Fifths . 1 e 4
40 10.401.rh. .. .64 46
5 Do. 10111. Md. Bo 41 sp.
5 Do.IOIrA.,M 4. BD 4 41p.
1 D0.10t.5h.,211 &II e 4 bp.
1 L0n.,0.01,PC/tel/, lo4d.
414 London & 8. W astern ON 0 e
40 Do. Now C0n5.644. 461 e I
X Do. Neon, 411/ ,
50 Do. Cow. Tenths .1 3e,
40 Do. do. Tenths F,

td.

1
2.5
14
24
1

in.u% t'r4Or.( Ve,.)

Ned

~E~II( IPAinP.

... .............
ILOrm:x d 1~~ SuwDrt

Namur and Live .
Northern of France
Orkass 4.lfordeo.

I4rN and iii;;.7
Tare/ antS (plea's.

ice:

1FZ.71.71k7,71,7:

Per
7•1118, Au op. 24.
Paris/Ail Orleans....
Parts and Rouen .... 0111 76
Rouen and lIMTO 601 16
Ashman k Narucills 606
stramboura and Haat.. 171 60
Centre t \lnnen) 670
North

I "w~:.i tw~R::::::

M UMW.
ffijW LWOW: -
LMII 76 1730 WWI
050 I 060 91{ 26
602 50 602 50 6118 Tf
te 5 1100 6eo
al to 693 76 .54 50
472 60 472 50 471 26
631 26 . 633 76 631 26

hi' 11
ld.

49
ed

75
el 25
4;2 W
533 TS

•
MEETINGS.—Ex ETES AND CHEDlTON.—Extraordi-
sus ry Gefirral Meetiori..—Yoteter, Aug. 26.—Mr. R. Thome in the
chair.—The Chairman, Ur opeaine the noes dings, referred to the
suit in Chewer; eommwodl by three directors, in consequence of the
majority of the directors taking pro:catnip opposed to the views of
the majority of the nleareholders. Au injuortion was obtained to re-
strain those direeh es from forming a junction with the Brice and
Exeter Railway, then in contemplation. fur the purpose of defeating
an agreement which the majority of the shareholders had entered
into with the Taw Vale and South-Weeterei Com ,ritiea. An appeal
was made to the Lord Chancellor to decide several disputed
points.. The Loral Chancellor Oct at rod the question whether the
directors or the shareholders were the compunr, by holding that the
latter constituted the corporate body. Mr. Buller, the chairman of
the directors, hail refused to put certain rerolutions at a meeting of
the shareholders, and the shareholders put them themselves, and in
this course the lord Chancellor decided that they were justified. At
this meeting the shareholders would be asked to give their opinion,
whether the suit to instituted, met with their sanction, whether the '
seal of the company should not be placed in the hands of the mere- I
tery, whether the number of directors should not be increased from I
six to eight, in order to give a quorum of four on the eide of the
shareholders, instead of leaving the direction negative, three
directors being opposed to the views of the other three,
sad the majority of the shareholders—and whether it wee
not expedient that the hoe should be opened for the benefit of
the public and of the shareholders.—Mr. 1 oung proposed That the
following reeolutions be adopted, confirmed, and ratified : ' That the
institution nod prcsecution of a suit instituted in the I ligh Court of
Chancery, on the sth day of April, 1847 in which the Exeter and
Crmliton Railway Company are plaints f' and James Wentworth I
Buller, John Browne, Patrick Miller, Charles Bowles Kipp, Richard
Bastard, Peter picador', and Edward Davy rye defendants, be, rnd
the same to, hereby adopted, sanctioned, and confirmed, and that
the further penitential of the said suit, and the institution of any
Pop plemenba or other emit or suits that It may be deemed ad-
visable to institute in the name of the Exeter and Crediton Rail- 1
wily Compeny against the said defendmts. or may of them, or any
other persons or person, for carrying out or giving effect to the
held
so of the meetmg of stuireholders of the said company,
I held the 12112 day of April, 18 i 7, and also to the resolutions of ale
other meetings aod of tlus meeting, and in particular, for the purpose
of reetraining the said James Wentworth Buller, John Browoe, Cheer.
Device y and itistunt reho, re eerie oe directors of the said
company be. and th an bony Mpaina. ayUkt.rierd, ions ovaered to
b. i..w.k.a . That the enlaces nerd of,
the company be
forthwith plead in the al Thome Borsch, req., the erre-
tory etre ade=y, re that Jome Wentworth Buller, Bas
be, re he le to last over to the rid Thome
re earra s2srhei • red la ere the crams
.I.= Is wirehir= the rid Tim dot rarer are
be toner irl MI6. re re imil erne se beret eat Naar he, aft
the ems le, hereby de el be be the earesa end eft!, lareereer
Sear reliveyOrreey, ire rat the rid sal wW let bar
hrelehre rod, astir sal at re empre, Eel se Myer le re
carer semi at re argery. Tint re fteree at Oda. re Sae*
sad rears Iterwer Orem la, led Ow an bit*, imitherind •
re tried Irma orb shentlert le re Wray error else
pay r shall be eaterry le ee, lir le et art slept the err Sr
alibig Mil ill UMW= lila Ilte newsy et re Taw
he
ma her rot lie silaterit raidetlre he re-
heel elan WNW= Thee, Shot Weimar, is, set setup
see Omer, lr,, rd Set le. mei Sr tbity siik saw
reel le wry re iris fee Ira thro=2.4 awed
WNW solherrall la akar be
le he
=bra la Priem Om* and ow awl ea*, eeitter
ger r lieS be aemessy aid rept bawl
Serra Ile
err; el Oat Se eeereleeT, eagbaer, and Wrier armee tithe
rid bate it are alit* Minty esatpain be 4111•814 rd

th 4 they ere hi eels directed to aid and assist and to act under
the direction of the said Miriam Thorne, Edward Medina,
and Emanuel Cooper, in carrying the aforesaid resolatione into effect."
Mr. J. T. Locke eecooded the proposition. —Mr. Seecombe observed
that it was intended that the Creditors and Exeter railway should be
a line worked in conjunction with the Bristol end Exeter and Great
Western Companies, on the broad gauge, and the line would have
been so wariest three months ago tut for the interference of the South
Western Company. The public bad • right to complain that the line
should be shut up, and the gram should be allowed to grow over the
rolls. Those gentlemen who had now the powers of government
aught, lie considered, to take some steps, that the public might have
the benefit of this railway. It sae a well known fact that the
TAW Vale Company would never have obtained their bill, but
fur the countenance of the Ihrietol and Exeter Company, with
whom an agreement existed, which it was considered desirable to re-
, Radiate, in order to obtain the better terms offerrll the South
ta Wakens Company. The me course had been adopted with refer-
ence to this company ; although he thought the Crediton and Exeter
shareholders might have obtained equally good terms from the arils-
' to: and Exeter, without that interference on the part of the South
Western Company which had led to the sacrifice of the interests of
the public. Mr. Seecombe aoncluded by stating, that if he lived
in Exeter, he would get up a petition against this mon-
straw grievance, and lay it before parliament—Mr. Stone moved
and Mr. Bealey seconded, as an amendment, that the rasoltitions be
taken separately, which was last on a division by 6 to 17.--Mr. Sec,
etombe gkerl the chairman when the line would be opened Le Hartle.
—The Chairman declined to pledge himself to any particular period,
but it would be opened with every possible deepatch.—Mr. Dedham,
Secretary to the Bristol and Exeter Company, raid the line would
have been opened last December but for the interference of the South
Western and Taw Vale Companiea—Mr. Harmon corrected hies. As
secretary of the Crediton sod Exeter line, he knew that the Junction
at Cowley-bridge could not have teen completed before February.—
Mr. Bosley complained that the public and the line had been damaged
by the attempt of certain interested parties to defeat the esta-
blishmentof the broad gauge to the North of Devom—Mr. Stone moved
and Mr. Bexley seconded, as another amendment, that the worths fol-
lowing " 1847 ' in the first paragraph be omitted, which was al.
tat.—Mr. Stone moved, as a third amendment, which way also
seconded by Mr. Beaky, that the resolution, with respect to the seal
was unnecessary, immesh an the oral mu now in poseassion of the
secretor!. This was also negatived, and the resolutions, as proposed
by Mr Yonne, were weed by 19 to s.—Mr. Blake moved, that the
number of directors be Increased by adding W. Conic, of Lambeth,
and John Sharlond, of Bishopegatestreet, London, to the direction.—
Mr. S. Davies seconded it—ltr. Stone said the question was, bed
they the power of increasing the number of the directors' He sub-
mitted that they had not, and, therefore, he proposed that
" neither the local nor the general act authorised the company to in-
mare the number, or Val y the number, except by reducing from time
to time the number filed by the local art, and, therefore, it was
Illegal and unjustifiable to take any measures for no doing."—Mr.
Scecombe seconded the amendment—Mr. Cooper said the shareholders
had been very cautions to obtain the opinions of Mr. Talbot, Serjeant
Wrangbam, the Attorney-General, and Mr. Rowe, before making that
motion—Mr. Itidiuun stated, and hewers borne out by Me. Stone, that
Mr. Nerjt. Einclake and Mr. Butt were of opinion the. the increasing the
number after reducing it, was not legally in conformance with the
provisions of the local and general GOP, and Mr. Talbot coincided in
that opinion.- The amendment was lest by I to 17; and Mr. Blake's
motion sae carried by 17 to 5.--A poll was demanded, which evaded
as follow, : For the original motion, 1,739 shares: and against it, 640
shares.—Theordinary meeting t hen book place, at which a report detail-
Mg the circumstancee which had led to the proceeding. in Cbaneery, and
the rMection of tte terms offered by the Bristol and Exeter Company,
was read—Mr. Begley proposed an amendment, that the report
should not be adupted, because it contained a history of illegal pen-
ceedinia, in the removing font directors at an extraordinary meeting,
which was contended could only be done at the ordinary meetings.—
Me. Stone seconded it, bemuse their irregular proceedings might not
be supposed to meet with his approval or 'moron. The amendment
was loot, and the report was received and adopted.
- - -

WIIITIDIATEN AND FURNP.SS JUNCTION.—IIa/. f :yearly
Mating.—Aug.26.The Earl of Lonedale in the chair.—The directors'
report etated that upon the portion of the railway under contrast,
stout Ofteen miles, or nearly half the length of the line, the
prof/ems of the severlal contractors had been, during the half-yam,
satisfactory. Of the total enimated cog of this portion of the tine
(about 135,006/.) 75.000/. bad Wen expended leaving to be paid upon
them works 60,0001., • large portion of which wooed be required
during the ensuing hat-year. In coneequence of this the directors
had abstained from entering into my further contracts. A mode of
effecting a junction with the Whitehaven and Maryport tine, at a
comparatively trilling mot, woe engaging the intention of he
directors By tbe completion of the contracts in band, and the execu-
tion of II out of the 13 miles, a continuous railway communication
from lehitehaven tv Whicham, near the Ditdcion Estuary, would be
emceed, and should the (uncle at their diepawal enable them to effect
thin object at an earlier period than could be relied on for the corn.
pletion of the Duddon Craving, their attention would be directed to
the expediency of adopting than couree. The payment 01 the larger
portion of the arrears of calls reported at last half-yearly meeting to
be due, bad, with the balance in hand, enabled the directom to meet
• the payments to the several contractors in respect of the cork, in
progress; the amount received on account of the third call, and that
remaining due, would, however, be immediately required. But the
prospect of further colts to a greater extent than N. per share was
distant, as, upon payment of that Aura, the borrowing power of the
company would oorne into operation. The amount of expendl.
ture to 30th of June last wan 73,683/. 16e. ; the receipts on
rolls 100,2324 14s. 9d., leaving a balance of 24,5661. 18a. 9d.
The Chairman, in moving the odejtion of the report, said that the
directors had paid every attention to economy in conducting the
works, and had pushed them forward under very disadvmtageous
circumstances. Great difficulty had been experienced in getting in
the calls, so as to enable them to push on the works an rapidly as they
amid have desired. They had been compelled to allow time, and to
all on their solicitor to aid them in the matter. In October there
would be another meeting, for the purpow of declaring the forfeiture •
of shares, and to determine on the manner of their re-iesee. As to
the general prospects of the undertaking, lie felt as confident as ever
that it was calculated to develop the mineral wealth of the county.
The line to the north of Whltehaven, which bad only been open
three menthe, was paying 44 per amt., with a passenger ti attic of
5,000 a week ; end it would he necessary, in order to meet the in-
crewed Mane, in the next maim to apply to parliament for a bill
I enabling them to haven double line. He felt as convinced as ever of
the eoundnero of the undertaking, and means would be adopted by
which the whole or the greater fart of the line would be opened by
this time neat year.—The report was adopted, and the following di-
rectors were re-elected s—Tbonas Ainsworth, William Miller, John
Pelle, and George Pew, }loges, and Edward Stanley, E.g., M.P.
Mr. George Knox wart re-elected auditor.
NORTHERN COUNTIES UNlON.—Haijr Yearly Meeting.
—London, Aug. 26.—Mr. William Bereaford, .P., in the char.—The
dlrectore' report, after mentioning the passing of the deviation bill,
stated that the modal of the company had been reduced by It to
2,625,0001., being • diminution of a, 5,0001. on the otiginal capital,
equivalent to the reduction if 61. 55. on the amount of each share.
As parliament had not granted the powers sought by the 12th clause
of tie Deviation Bill, negotiations had been renewed with neighbour-
ing oompanien, with the view of obtaining a guarantee on the monies
to be expended on the line from Tehey to Bishop Auckland, and an
agreement with the Stockton and Darlington Company had been
entered into, subject to the approval of this meeting, for a guarantee
on the expenditure from Bishop Auckland to West Mill until
the line is made throughout to Telaty. The meeting wee made
epeeist for the consideration of the agreement, which is as
follows, vie.:—"That the Stockton and Darlington Company
shall guarantee 3 per cent per annum upon the outlay from
Bishop Auckland to Meet Mill until the whole line is opened
throughout to Telmay, and in time of such line not being made before
the expiration of the act, or any renewed set, the Stockton and Oar-
' lineton Company to have the right of emitinuing the guarantee or
taking the line at the met of construction, It being understood—
"lst That the outlay shall be superintended by a sub-committee
appointed by the Northern Count*. Union Board. such sub-committee
to contain of two members of the Stockton and Darlington Board sod
two members of the Northern Counties Union nosed. and. That the
meetings of the said eaboommietee be held at Darlington. 3rd. That
the Stockton and Darlington Railway Company shall have the work-
ing of the line,and shall maintain the linein good and sufficient repair
during the period of guarantee. 4th. That as soon as the line in
opened limn Wed Mill to Hainan! Castle, then the present guarantee
to be raised to 6 per cent. per annum." The direetora had turned their
attention to the amendment of the line from Tebay to Bishop
Auckland, and in etructed their engineer to re-enmvey the country.
The report showed that a very coneiderable Raving could be effected.
The direstors had also made arrangements with the Leeds and Mimic
Company for constructing, at the joint expense of that company and
the Northern Counties I:nion Company, to be held in ornmr.cm
for the joint use of both, about two miles of the line, commencing at
Watts. The station at this place would also be constructed for the
joint ure and benefit of both companies. The directors had cant.
menced the works on the With contract, which were of an copy cha-
racter, and had also made arrangements for a similar outlay on the
line ham Bishop Auckland to Went Mill. The bill of the Liverpool,
Manchester, and Neweestlesipon-Tyne Junction Railway had re-
ceived the royal ascent, by which the line from Newton to Willows
to Peale Bolton, a distance of twelve miles, was to be constructed at
the joint expense of the two companies,' and to be held in common for
their joint one. Themanagement daring conetruction was to be vested
in &joint oommittee, to comist of five director. from each company.
The receipt. aaounted to 194,6101. 12e. 1041, and the expenditure to
93,1191. 19e. 3d., leaving a balance of 90,4991. I3e. 3d. The report
was adopted, as rim • reeolution approving and confirming the agree-
ment entered into with the Stockton and Darlington Compsny.—The
Chairman then stated that lie had received a requisition, baring the
regulate number of signatures calling upon thin meeting to take
into esesideration the expediency of reducing the expenditure of the
company by decreasing the number of the director.—Mr. Taylor
moved, and Mr. Dutton seconded, the motion that the number of
directors be reduced from 18 to 12. This Ina unanimously agreed to,
and 12 of that body were chosen to remain in ounce.
EAST AND WERT INDIA DOCKS AND BIRMINORAId JUNC-
nOO.-11alf.ystrb, Meeting.—London, Ang. 26.—Mr. J. Scott In the
chair.—The usual preliminaries having been gone through, the secre-
tary read the following regeoti—"The directors beg to report that
thiv have carefully proceeded with the purchases of the property re-
quired for the railway,.' theybelierethettheareameeee, ea, ae_
neraly been eatlsfactory. The directors have been anxious not to
these important transaction too rapidly, and have bestowed upon
ra them much time and mmeldetMn, with the feeling that on the
=mat of this pmtion of their duty the economical con-
cif the MEM sal* depends. When the purchase of land
Ind se tar strums' as Is 'alit of a contract being taken for two
Wks sod • half of Patted, tenders were invited by public ether-
Weald*. Muth took place, and the direetens are happy
to meet that Mr. J the enema. sful competitor, has contracted
to execute the works at a estiefectory price, and below the engineer's
estimate. The shareholder. will perceive from the accounts of receipt
and exp. niliture now to be laid before them that further funds ere re-
githilte for meeting habil/Pee Incurred and proceeding with the under-
taking. The directors have been moat anxious to defer asking any call
until such a proceeding should be absolutely memory; that period hen
however, now arrived, and a almond all of 51. per share has accord-
ingly been announced. The directors alluded In their report of
February to a rival project, promoted during the hart spaces of par-
liament by the Regent'. Canal Company. They have now to report
that, after proceeding some gages before the bows, the bill for that
project was withdrawn. The ;negotiation opened with the London
and North-Western Railway Company, also alluded to in the
report of February lot, hen necessarily been suspended, in
conformity with the rerolutiorie pained by the Douse of
Commons, forbidding any ouch arrangement as that contemplated
until mohair of the company's capita shall have been mid up."
The total amount of receipts to the 31 at of July was 119,701/. 3n. 11d.,
the amount of diaboreemente, 9E1121. 13... leaving a balance of
20,619/. oa. Id.—ln 'hewer to a question put by an has, proprietor,
the Chairman raid that so soon ae the amount of capital pet...lmbed by
the resolutions of the Home of Gammons was paid up, the arrange-
ment for the sale of the line to the London and North-Western 03111-
pany would be renewed, and that there Wee not the slighteadoubt but
that that company would undertake either to purchase or to work the
line. The resolution for the adoption of the report was then unani-
mously agreed to. _ _ .

Id 11-..01. MIRO' AND RIDCAIL—HaIf Meeting.—
Darlinirton' Aug. 25.—Mr. Jona Pease le the chair.—The report
stated that the wort. (with • Mr Malik esearaom were completed,
end the directors trusted MI wads • meek en to admit • fete harem
of trafße ter ease time le gam Thee* two esestbe epos which
the Meilen (Gehl ken empeelem Ihe esulpte of Se beam
'ea r melees ied Jay. The malt agured that the Mir was
mpeevlog .11.11.1hetart1 y. The amelieedke ad alma tame had
materially tiosaard during Ike kit helapea, Mt the pnosfuesr
receipts Md as been so good. Deember le Mee.lsefreg Mime pm
delveeri of the year. The per amt.= the Mrs had beat day
• ; to carry out thla amekmt, however, the directors bad
Mad It gemeary to borrow (lemererfly) a mall gayest from the
I metal meeset. Not Many railed the wady of the deficiency
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BIRMINGRAM, WOLVARHAMPTON, AND STOUR VALLEY.
—llalityr 4ely Meeting.—Bitnungham, Aug. 2G.—Mr. Robert Batt
in the Weir.—The report Mated that the royal want had been given
to the Smethwick Deviation Bill, sad that in Ws net powers were
takemfor the rale or lease of the entire line to the London and North
Western Company). Notwithstanding the moceinful pottage of the*
bills through the Heine of Gimmons, in the last searion, for an eaten.
Mon line to Stourbridge and Oldbury, with branches to Dudley and
llalmowen, they had been afterwards rejected in the House or I.orde,
but the directors continued to entertain the opinion that these linen are
imperatively required; they, therefore, recommended • renewal of
the application to parliament in the ensuing session. The parpore of
the directors to pay interest at 4 per cent on the calls from Jan. 1'46,
woe also announced—The engineers reported, with reference to the
works, that they were proceeding sathirmtorily and ex pedit iourly, that
mete than one.third of the tunnel through the town of Birmingham
had already been oompleted, and that the Smethwiek Deviation line
would he ready for letting in a short time. The abstract of 'mum.
allowed that there bad been received in deposits, and on the first and
second calls, with interest, 302,015/. to. M. The dishuraements
showed—Parliamentary expenres, 31,9171. ra. td.; to Shrewsbury and
Birmingham Company, as per agreement, 33,6H1. 80. 4d, • engineer.
ing, 13,119/. 10e. lid.; works, 16,51 W. ho. 9,1.; mile 'And chairs,
26,265/. 4s. sd. • land and conipenration, 141,400/. 9e. 10d, Re.,
leaving a behnecin band of 34.631/. Ile.—lo moving the adoptionA
the report, the Chairman mid that as this was the tart am-
ision on which he should addreas this proprietary, be would
take the opportunity of making • few otisemritione. He was
about to reeign the chairmanship b.r served reiason•, tome of
them of a private nature; but mainly because of the fact
that an the londen and North Western would have to provide a non.
riderable amount of the capital required for completirg the under.
taking, he thought it best that a director should preside who was more
intimately connected with that company. Ile could not (herald) him.
pelf muain chairman on such independent term+ AR he bad hitherto
done, for the:remota he had cited ; and, an it would be impessible for
him to exercl4e that independence, he did riot choose to °crony the
poet without the fullest authority perD.ining to it. Ile then wept on
to remark that, ootrequint on one.half of the capital declared in the
set of parliament (1,110,0001.) not haring been paid up, the formal
leas: could not at present to submitted to the proprietary, but that a
special meeting would be called on an early day for that purpose.
Tereafter he adverted to the fact, that the diridend of the London
and North Western Company war not so Large for the last half-year
to formerly; but her xi:reseed an opinion that, in future half years,
when the various branch, camectid with that company's main line
were completed, the dividend would be quite equal to what it bad
ever been. At the Fame time (he odd), when they looked at the
raiment, of account which had beta prevented at the meeting, of
the London and North Western and Great Western Companies, they
saw reason enough to regret that parliament hid ever departed tram
that principle wl,icb, come years ago. it prokared to recognise—that
great competition in railways Inn not for the public advantage.He
considered that it was the bounden duty of parlament to take
rare of the interests of the large body of tenons who had em-
barked their capital in railway undertakings. Ile deprecated
any departure from the principle, which parliament hail once
recoemised to be just and proper, for the sake of any vision-
ary idea that competition as applied to railway+ wou'd be beneficial,
for he felt convinced that the only result would be a doable expendi-
ture of the capital required, and the very certain result of inereared
instead of decreared farm. if, In future years, parliament should
proceed in the same reckleas manner which it had done in the last
amelen or two, there ismer, alternative but for railway companis. to
coalesce for the protection of their common intertets.—The repotting
adopted.—ln reply to a suggestion from a proprietor that 5 per cent.
interest should be allowed en mils paid up In advance, the Chairman
1 sad the matter should be taken into consideration.

--- •
GlLoveuvrait AND DEAN FORMS.— Orthnary Genera
Veering.—Glouceater, Aug. 26.—Mr. Samuel Baker in the chair.—
The Chairman remarked that the Forest of Dean Company now
stood an integral pert of the South Wales Company, and they were
now in a position to carry the whole of the traffic from neretord and
the adjoining country; indeed, all the passenger traffic from the
south of Ireland would pem over the Dean Forest Railway. ]here
was no competing line. The Oxford and Cheltenham Railway had
passed under the auspices of the Great Western Railway. The
directors of the latter company had admitted that they had promoted
the Oxford and Cheltenham line, because, antler the circumstances,
they sionld not effect a croedng at Hock Crib. AU the thank
from London must, therefore, pass over their line. There were no
counteracting d' vantages. rinse the last general me4ing of the
Forest of D an Railway the South Wales Company had purchased the
Rollo Pm Railway, and seem would be thereby gained to the heart
of the Forest. A eau factory arrangement had also been effected
with the Severn and Ws e Railway. The period for the completion of
the line would be extended, as the present state of the money market
would not adult of the ready payment of calls. The report of the
directors, stating the sarangementa which they had been able to West
wee read and adopted.