The Express.
London, England, 1848-08-14 00:00:00

meatary expenees had been steadily decreasing, end he hoped they
would continue lode. en. In answer to Mr. Mannert, who withed to
know how the ruin of 484,071 L lbs. 2d., the amount of their balance on
the 30th of June, had been invested. the chain:atm eluted that a con-
siderable stun wart at the baker's at the time the accounts were made
up, bearing interest, and that the remainder won invested In shares
in railways with which they were connected, and which
esthoowey bed
bought at a discount. viz.: in East Lincolnshire shame,
Stamford and WtabeiOh, 27,0001. • Itoymon and Ilitchin, 24„0001.;
and South Yorkshire, Donesater, and Crook, la,oool. lie begged to
state that they did not Intend to raise additional capital ; that the
• original estimates had not been at all exceeded; that he did not be.
Irene there would be shy defaulters on
With future calls
tom ; and that the
extension shares remained in abeyance. regard observati
from a proprietor in reference to the payment by the company
of compensation to Sir Edward Lytton, he tenoned them that ins ll
eases the o Ingram was bound by act of parliament to pay such ex-
pentea—After some emanation, In the course"( which Captain Laws
spreared his wiUnigneas to submit to any reduction in his salary
which might be considered jest, the amendment was withdrawn, to
compliance with the general with of the meeting. The report wan
then adopted, and the dares named therein having bees declared for-
kited in due form, a complimentary vote to the chairman brought the
preeenlinp to a cloth.
NORTHAMPTON AND BAN 111, RT. —Thy: yearly Meeting.—
London, Aug. 12.—Mr. E. 11. Barwell in the chair.—This wan a mere
formal meeting, convened in compliance with the act of parliament ;
but there were not present a sufficient numberot shareholders to
constitute a meeting and the same wan adjourned eine die.
CORR AND BANDON. yearly Meeting. Cork,
Aug. 9.—Major N. Ludlow Beam sh in the chair.—Prom tin di-
rectors' report it appeared that the ex peon an tont upon opening the
line from Bandon to the Halfway House for traffic would be about
96,0001 a or 5401. per note. The works, which were being pushed for-
ward with vigour, were expected to be finished in October next. The
receipt to the 30th June were 92,1140!. 18s. Bd. ; the payments
08,2561. 19e. lid. ; leaving in bank 1,561/. la. ltd.—Mr. PCMallen
feared tat opening half the line would injure the project with the
public.—The Chairman said the decision was founded upon minute
caleuletionnof traffic.—Mr. Intrgibbon raid that the entire Hattie
along the lire would be taken into the hash of the company.—Mr.
M'Mullen was perfectly satialied.—The Chalcutan was happy to say
that the time hail ernved when they had ne longer to talk people into
et good opinion of the prone*, for the directors could confidently point
to no work, d the line on Mocituy leo, and were agrm-
only tut prized at thextentof the works and the efficient manner in
which they were executed. It was notating to colitsoet the appearance
of the works with the opinions heretofore expreaved In respect to nil-
oatrick tunnel, which it wan confidently area tea would never be
finished, but which was complete,' at a cost which tome of the mist
eminent engineers pronounced incredible. lite Bandon road
bridge, which they were told was to be pull' tiown by the grand
jury, wan erected, and imam' of being a nuima e was a public eon-
, emenee. The Bandon river bridge, which win declared a gewgaw,
was proved, one of the truseest alone supporting a weight of 24 tons,
without adeffexion exceeding three-eighths of an oat. The poet and
rail fencing had stood the test of lasit waken, great distrest, and its
still greeter disaffection; and be could not avoid expressing his great
grutilcation that the trudetspeople and labourers along the works had,
at • time when men of pryper- y led other; an ay to join their ranks,
avoided disaffeetion, which afforded one of a bandied proofs that re-
muncratisc employment wan only required to retire peace and tran-
quillity in I slaruL This he hoped would not be 104 on the govern-
ment in inducing them to aid tudways, not to Yp• aide vast advan-
tage vary of orded in the transmi.ion of troop.. lie homer the next
tune be should have the pleasure of addrewiin,c the m would be pre-
paratory to their experimental trip. The veer-lay raid that 10,0001.
would finish the works on half the line.—Five hundred and eleven
shares haring tAon forfeited, the meeting adjourned.
MISCELLANEOUS NEWS.—Easeettw COUNTIES.—
The report of the directors, to be prerent“l to the next half-
ye .rly meeting. hat been completed, and the following is a brief out-
line of its vadenta .—The consolidated Vie stock is entitled to a
dividend for the six months, ending the ith of July Ina of ris. per
share. The 11 (Martens of the York Exte.e..... -hen s will receive
their first dividend. The report upon ill, id t..e hoe, the
comp toy's stack, Mc., is mtiehretory. The dahron and Brain-
tree Inulway will open for guomta truffle on the 15th instant,
and for Pau mongers tan the lot of SeptentMr. The &dick' line
will be opened also during the autumn. The one et the
Peterborough nation will be allowed, In pUlFUlkflee of favourable
arrangemerds, made, to the Great Northern Company, who will have a
portion of their line ready for traffic by the end of September, and
through nees an be paid there for gteada. This is an indication of a
friendly rappt .chentenr, which may prove advantageous to both com-
p:mini ; and the shareholders will probably be glad to learn DLit, ex-
cent the short Derebam line and the Daverstoft harbour, there are nu
works in progress. la the succment mat.e up to the 4th July the re-
MIA.. em constructient amount are shown to be 7,914.8171., and the
ilehureements 7,9401171. The revenue amount fir The half year
ending July 1 shows a total of 342,274/. from traffic receipts, rents,
&c., arid the balance, after defraying oil charges, and the intercst on
the Extension Stock I and 2, and to the Northern and Pastern
in 116,092!. I Iron% available for the half year'e dividend, due
July 1, 1848.
Ounne WEPTESN.—T! e general statement of receipts
slid payments has just been Maid by the Great Western Company.
The receipts upon calls on the different shares amount to
6,970.4301. OP. Id.; the receipts on denenturea, loon notes, sac., to
4,456,0271. lie.; making, together, 11,457,2771. 9s. Id. The payments
are, total sum expended hue lines opened to the 31st of December, as
per Wt statement, 7,498,1511. Oa 3,1.; for the Great Western
Railway, 1114 miles, 42,1171. 13s. Id.; the Cheltenham and
Greet Western Union Railway, 4.04 mile,, 16,2241. 19s. hal. • the
Oxford Railway, to miles, 11,446/. 1,3 d.—making a total of
7,967,9991. 17c I Id. ' • expenditure for the Berke and leash Railway,
partially opens!, nt4,4141. 2.. 3d. ; Reading to Uungerford, pro •
portion of mat being 502,751.0. IGo. 5d.; making a total sum ex-
pended fur lines of railway opened for treat:, 8,470,754/. 14ii. 4d. The
amount paid fur the following brioche, the Oxford and Rugby, the
Hoennaith and Hereford, is 1,122,3101. 75. Gil., and amount of sum
ecriptions to other sompanies is 1175,3481. 17e. 104.; lommotive stook,
242,3611. So. 7d.; being a total of 11,311,0691. Is. 3d., leaving
146,20it1. ac led. To this it ;added the revenue account, paid
2!9,117!. as. Ild., balance by receipts for the half year ending Relt of
June, 1040, 200,424/. 17s. Id. Then follows a detail of charge, re-
ferred to in the revenue account, making the locomotive amount
i 2,5371. 12.. 'M.; the carrying account 61,6001. 18P. Cid. ; and general
cbarges 21,5171. 3d. It ie state-1 thst the dividend fur the had year
101 be 3j pee cent., amounting to 231,1371. 15s. upon the paid-up
capital, which is 6,609,1401.
l'AltuettlAL RAILwAT RATES.—An important meeting of
railway directors it to be held in :hte course of a few deyst for the line-
pose ot taking into consideration the best means to be adopted in eon-
so of the great increase in the parochial rates charged on rail.
wins. It is the intention ol the directors to memorialise parliament
on the subject.
Tun SLUTTISH CENTRAL TRAFFIC —We unfiennand that
arrangements are in course of negotiation between the Edinburgh ad
tiksgow and Gated nian Railways, as to the traffic by the central
line, by which further nalipeution between the two former cola-
pinta, both in parliament and in the law courts, will be obviated.
The terms have not transpired, but they are reported to have the
some bars as stated in the last attempt at negotiation, viz.—the Edin-
burgh and Glasgow to have all the traffic to amid from Edinburgh and
Eat b, and the am-half the proceeds:l that along the Glasgow line,
leaving the through traffic north and south exclusively to the Cale.
This arrangement, if perfected. will conduce much to the
public sec mmodation in various respects, both as regards Idea and
traffic, between Perth and Edinburgh and Glasgow, to which the hos-
tility of the Edinburgh and Glasgow Company has hitherto interposed
ob•Metni. Thi• public will now look for more moderate rates oh
charge both fur pawkier. and parcel- and return tickets to the
above chase daily, as mcustomary on al. other Scottish lines.—Perth
Classier.

MONEY MARKET.

SATURDAY EVENING.

Public securities have been rather drooping to-day,
in the absence, however, of any speculative activity.
Console were sold as low as 854 for money, but they
finally left off 86 ton for money and time. Thus the
contango between money and time has been done
away with already, after two days of existence only.
The fact would seem to show that money, which
during the settlement was more in demand, and com
mended higher rates, has become more easy, so that,
as before, no premium or interest in the shape of con-
tinuation has to be paid upon stock dealt in upon
credit, or for time. Reduced Threes were 861 Three-
and-a-Quarter per Cents., 861 to!. Exchequer Bills,
31s. to 38s. premium, India Bonds, 28s. to 325.
premium. Bank Stock, 197 to 9.
The foreign market continues in the same inactive
state, and transactions so few that few quotations can
he accurately made as representing the rate at which
business was or could be done. Mexicans were
quoted 16} to 17. New Granada 11; to 126. Chilian,
83 to 6. Brazilian, 70 to 2. A bargain was done in
' Danish at 68, but the stock was still called 65 to 70.
Dutch Two-and-a-Ilalf per Cents. were 43 to 4 ; the
Fours, 69 to 71. Russian, 98 to 100. Spanish Fives,
11; to 12; the Threes, 214 to 2; Passive, 2; to 31.
Portuguese, 17i to DM.
For the information of parties purposing the in-
vestment of capital, or having property already so in-
vested, the following table has been constructed to
show the rates of dividend which at the average
pric.s of this day ve ould be yielded by the stock and
share securities specified. It must be observed, how-
ever, that Reduced Three per Cents. carry one
quarter of a year's interest more than Console, al-
ehoueh quoted at nearly the same price, and generally
not obtaining more in the market. They are, pro
tondo, the more advantageous investment by the 1,:":+.
additional interest which is due upon them. Cons°,
are preferred, and command a relatively higher rate,
however, bee tuse, in the worst state of markets,
always more readily saleable than other stocks, and
therefore the wore peculiar and exclusive medium of
sp culation.
The calculation for London and North-Western
shares is for this time continued upon the rate of
dividend declared and paid till now. hereafter the
reducet tate, proposed by the directors at the recent
meeting of the proprietary, wilt be adopted as the
basis.
Can... 118, average price ...
Reduced Threes....

831; yield per cent...» ...... 9 IN
96 ..... 3 9 9
—,--4.3o444;o3arlerperOsta 144 ..... 13 1
Bulk Stock ..... 4 10
t.
}lxotter Bills l4

..... 8 9 6
7 13 7
l 5
9

and YorWake. 71
Great Western 62

iiidoniliitoutb-wcstern

..„ .... 9 10

London and Melton ..
Eastern Counties I ..
..
1, 6 19 4
London and North-Western.. 119
„
The advice° from Hamburg of the Bth give the
satisfactory assurance that the Danish blockade is not
to extend to the ports of Mecklenburg. The exchange
on London was still in decline, and quoted I lower.
The low rates here, as observed, were draining away.
all the silver that arrives from Spanish and Portu-
guese America.