The Express.
London, England, 1853-08-15 00:00:00

SHIRE JUNCTION RAILWAY.

The ordinary half-yearly meeting of the share-
holders of this company was held on Saturday, in the Monks'
Ferry Hotel, Birkenhead, at one o'clock ; Alderman JAMES
Bancitorr, chairman of the board of directors, presiding.
The advertisement coffin the meeting having been read,
the chairman called on the secretary, John Oibsun, Esq.,
to read the report, of which the following aro the most im-
portant features
In reporting the proceedings of the company during
the last half-yeer, the directors hare the satisfattion to ob-
serve that the accounts show a con‘iderable increase over
the corresponding period of last year, and this increase has
arisen from the general traffic of the line.
The amount received during the half-year ending 30ffii
June,
1852, was £41,477; expended £22,50
1853, „ 62,466; 21,940

Increase £10,979.

L2,3Ve

"The traffic on the Cheshire Junction portion of the line
is rapidly increasing. The merchandise between Man.
cheater add Chester for the last half-year amounts to
25,149 tons, against 16,165 tons for the corresponding half-
year, and between Manchester and Birkenhead ti
tons, against 1,274 tons for the onrrespooding period of
1862% the number of passengers 91,364, ngaiost 83,783;
and the total receipts from the Cheshire June; inn line fog
the last half-year amount to 16,5131. 10s. sd. against
12,4481. 13s. Ild. for the corresponding period.
"The statement of account shows a gross income for the,
half-year (including a balance of 541. 19s. 6d. front last
half-year) of 63,9461. 13s. 7d. ; but the directors have to
observe that this statement assumes an amount to be re-
ceived from the Shrewsbury and Chester Company now
under litigation ; and that, although they have been advised
that this company have a legal claim for the amount stated,
and they have deemed it proper to make out the account.
in this form, they do not recommend the proprietors to
divide the whole amount.

"The cost of relaying the line between Birkenhead and
Chester, and the Button accident, hitherto included in the
general balance, shall be stated under a separate head, and
circulated with the report.
" The directors have also to observe that, in the half-year
ending June, 1862, the sum of 3,4301. 16e. 1 id., arising
from dividends oa forfeited shares, and 1,8351. 6.. 3d., •
balance from the previous half-year, mak'ng together the
sum of 5,2861.65. 241., was brought into that account, whilst
in the account now submitted only the balance of 641. 19..
is added to the actual receipts of the half-year.
"The present accounts are further affected by the advance
of materials and labour, in the former to the exteut of 1d
per cent., and the latter of 10 per cent., whilst no corn-
speeding advance has been made in the rates and charges
of the company.
" The proprietors will see, by reference to abstract D, is
the printed accounts, that the company is plying Me.
Brainy nearly 4,000/. per annum for maintaining. the line
from Chester to Lower Walton. This payment is under
a contract made by the Cheshire Junction Company, prior
to the amalgamation, and expires at Christmas next* The
estimate of our own engineer, confirmed by experience, ie
that the company will Le able to maintain this portion of
the line f.,r 2,0001. per annum, thus effecting a saving of
2,0001. per annum.
The following directors retire from Oleo by rotation,
and are eligible for re-election :—Mr. Jas. Bancroft, Mr.
Isaac Taylor, Mr. John Rogers, Mr. Henry T. Hope ; and
H. C. Beloe, one of the auditors, retires, and is eligible for
re-election.
" The directors recommend theta dividend be declared of
6a. 2d. per 27/. 10s. share ; 6s. 3d. per 311. share ; and 4e.
per 221. share ; being after the rate of 2j per cent. pet
annum, and that the same be payable on the 20th August
instant." . .

The CHAIRMAN commenced by referring to the late pe-
riod at which the accounts had been placed in the hands
of the shareholder., which he exceedingly regretted, as it
rendered the time too short to allow the proprietors to ear
mine and understand them perfectly before the meeting.
The reason why that was the case was, that the directors,
had wished to hold their meeting at an early day, in order
that the dividend might be in the hands of the share-
holders as soon as possible ; and he hoped the proprietors
would consider the reason in its proper light. The chair-
man next referred to the expense of relaying the permanent
way, and accidents which had been charged in the general
account, amounting to 1,7621., and said that assuming that
the arrangement with the London and North Western
Railway Company were legalised, they would have en. vet,
of er covering expenses, to relay the p.arne
nerd way to Chester. In the accounts the suns of at.1,4/0b
appeared as available for the dividend, hut the amount
was under that sum, owing to the company having a charge
againgt the Shrewsbury and Chester Railway Company,
which their lawyer states the can claim, so they mad( up
the account, assuming that claim to be valid. Whether
they would obtain it or not, he was persuaded they wt.uld
not have a smaller dividend next Christmas. 'fhe cotnpauy
had been charging interest on 67,0001. on land and preperty
not occupied by the works, but held because Birkenhead
owfastheir
improving;
prty an u
of the case, he felt confident that after Christmas next the
wdhe
improving.believed that
Lookingev ry yaeta i thei
t c valuef3,
or 21 per cont.
sdhi ire:eh:did
eri wouldto c
oh:
.21per
whethereent. Hthee would
dividend e :hot
should
do
bt..ehast
After considerable discussion • motion of a 21 per cent.
dividend to be paid on the 20th August, war put and unani-
mously adopted.
Mr. Mimeo moved that Mr. W. Titterineton should hi
elected in place of Mr. Taylor, which, being put to the
meeting, was carried by & majority of 39 to 4.
Mr. Belot) was re-appoint auditor ; and, after a vote of
thanks to the chairman, the meeting separated.