The Express.
London, England, 1853-08-13 00:00:00

LONDON AND NORTH WESTERN

RAILWAY.

Yesterday, the half-yearly meeting of the prvrie-
ton was held at the Euston Terminus; General ANSoN,

, in the chair.

After the usual preliminaries,
The CHAIIIILLN opened the proceedings in a congratu-
latory speech, concluding as follsws : Ever since I
have been connected with the company I have felt
the deepest interest in its prosperity. But it is nothing but
the highly flattering opinion entertained of me by my
brother directors that would have induced me to take the

position I have occupied at their board daring the past
year. That connexion is now about to be severed. Still, I
shall look to all the intelligence that may come out to me
from this country with the greatest interest as to the pro-
gress of your affairs. (Hear.) And I hope that, some day
or other, when I return to this country, I shrill have an
opportunity of resuming my connexion with the company.
Than that nothing would give me greater satisfaction; and
I take this public opportunity of telling my brother direc-
tors that I feel deeply indebted to them for the assistance
which they have given me whilst I have presided over them
as their chairman—assistance without which I could nut
have attempted to perform the duties which have devolved
upon me. Of the officers of the company also, I must say
that during all my experience, which is not a short or a
blight one, in public life—fur I have filled many important
situations—l have never found more able assistance than I
have on the part of those with whom I have been connected
in carrying on this great undertaking. And, above
all, let me name my honourable friend on my
left, our depur chairman—an invaluable
I

your rty . colleague
as I have no doubt he would be invaluable in any other un-
dertaking which chanced to have the advantage of his ser-
vices. Lastly, gentlemen, I thank you, the proprietors of
the company, most sincerely for all the kindness I have ex-
perienced at your hands. I shall never forget the confluence
you have reposed in me, and believe me that it will be to me
the source of the highest pleasure and gratification if at any
future time I rind that any services of mine are of use or
value to you. (Loud cheers.) In conclusion the bon. gen-
tleman moved the adoption of the report.
The report, together with the accouots,was then read, for
which see 'Urns: of August 6.
Mr. PIEUREPOINT, a director, said he could not allow
the farewell speech of their gallant chairman to pus with-
out comment. He was perfectly certain that he spoke the
sentiment of all his brother directors around- him when he
said that it was a matter of the deepest regret to them that
guy were about to lose his hon. friend. (Cheers.) It was
impossible that any person could have conducted the affairs
of that enormous concern with more credit to himself, or
with more advantage to the proprietors, than he had done.
(Cheers.) His services were beyond all price, and of course
no one was more fully aware of that than thoee who had
hail the pleasure of acting with him. (Hear, hear.) Let
him go where he might, he would bear with him the
kindest and beat wishes of his colleagues. (Cheers.)
Mr. HARMAN EAULE, another director, said he could
not help adding his testimony to that of Mr. Pierrepoint.
Having sat for 2.5 years at the boards of the several divi-
sions forming this great confederation he could declare that
for intelligence, fur aptitude for dealing with various sub-
jects, many of which were quite foreign to his previous
occupations, and for mild and gentlemanly bearing in the
midst of the differences of opinion which unavoidably arose,
the gallant general was unsurpaued by aay of his prede-
Demers. (Cheers.)
Mr. Loom after expressing his concurrence in the feel-
ings expressed towards the chairman, said on a former occa-
sion he had asked for a statement with regard to the ex-
penses of the locomotive establishments at Crewe and
Wolverton ; and he was then told by the chairman that
the whole subject should receive the careful consideration
of the board. On looking through the report he did
not find a single allusion to the subject. He would mote
that the auditors should be requested to inquire into the
matter and to report upon it to the next meeting.
Mr. TITS did not consider the auditors the proper

parties to inquire and report upon such i sie+-
ject. lie rose principally, however, t., say that
he thought the time had come when the narrow
gauge companies should unite against the Great Western
Company. Ile thought nearly the whole country had now
come to the conclusion expressed some time ago by ;Mr.
Locke, that the broad gauge was a national curse—
(laughter)—that it led to an absurd outlay and to great
public inconvenience. (Hear, hear.) The government
was now against it, and he had heard four cabinet minis-
ters declare that in their opinion the broad gauge ought
not to be extended. The fate of the broad gauge bills
seemed also to point in the same direction. The time had
surely come, then,wben the represeotativesof property to the
amount of nearly 60,000,0001. should do something to put an
end to the evil; and he believed they might rely
on the assistance of the government. The only way to
meet the difficulty was to take up the broad gauge from
one end of the country to the other. (Laughter.) One of
the hest railway statists of the day waist opinion that this
might be done for 10,000,0001., and he could not imagine a
case in which that amount could be more wisely spent.
(Laughter.) Full justice might be done to the broad gauge
proprietors by paying them off; and it would be easy for
the government to raise 15,000,0001. for that purpose, by
offering • guarantee of 3 per cent. Lord Hardinge had
declared that it was of great importance that the troops
should be conveyed to all parts of the country on the
same gauge, and that any extension of a mixed gauge was •
great political mischief, and in that opinion Sir James
Graham, Mr. Sidney Herbert, and Lord Palmerston cos.
cuffed. (Hear, hear.)
Mr. G. C. GLYN hoped the proprietors would not allow
their minds to be much occupied by the statements of Mr.
Locke with regard to the locomotive power. Since the
subject was first introduced it had received the most minute
and careful investigation at the hands of the committee who
now had the joint management of the department, assisted
by two very able engineers, not connected with the line,
and if their report were not considered sufficient, further
inquiries would be instituted. He had no hesitation in
saying, however, that the increase did not amount to ear
thing like what had been stated.
Mr. E• ti (chairman of the locomotive committee of the
northern division) said the question as to the engines was
not a subject which could be satisfactorily discussed at a
general meeting. Dividing the number of pounds sterling
by the number of miles run, the cost of the engines on the
southern division was 13d. a mile, and on the northern di
vision the cost was Bd. • mile. But these figures did not
represent the true difference. He did not deny that there
was a difference, and that the lighter engines used on the
northern division of the line would not do the work u well as
the heavier engines used on the southern division. But there
was a difference in the expense of working on the two divi.
dons. For instance, the coat of coke in the south was Me.,
while in the north it was only 14s. Then the northern engines
ran 3,000,000 of miles in the half year, while the engines
upon the south part of the line ran only 2,000,000 of miles;
and it was a well-known fact that the larger the number of
miles ran the smaller was the expense of the fixed charges
per mile. He did not mean to say that the difference of sd.
per mile might not be diminished to some extent, but no-
thing like the saving indicated by Mr. Locke could be
MIMIML
Mr. Locia was satisfied with the explanation which had
bus given by Mr. Glyn and Mr. Earl, and was perfectly
MOON to leave the matter in the handsel the directors.
Dlr. HADLEY complained of the loss occasioned by the
branch lines which, he said, was greater than was stated in
the amounts by the amount of the interest on the capital
originally invested in them by the company. He com-
plained especially of the loss upon the Buckinghamshire
branch, and the expense incurred at the station at Bir-

sningham.
The Cssomas, in reference to the observations of Mr.
Hadley es to the loss on the Buckinghamshire line, stated
that that lees was only too fairly shown in the accounts.
They expected, however, that the junction line they had
°Mused this year between the Oxford, Worcester, and
Wolverhampton, with the Buckinghamshire line, would
greatly improve the prospects of that part of their property.
The line they esocuded in getting was not so good as
they would have had by the Triag route, bat it would be
valuable as beinging the mineral districts of South Wales
in connexion with the eastern part of the country.
With regard to the station at Birmingham, they
had been com_peUed to alter the plans to meet
circumstances. Had they carried out their plans
they might have found, after they had spent their money
upon them, that parliament might have given the benefit of
the accommodation their station afforded to some hostile
company. They could not tell that parliament might not
to-morrow give the Shrewsbury companies power to extend
their stations at Birmingham. With reference to the con-
ference, he thought the Great Western had no reasonable
ground for rejecting the proposals of this company for uni-
form rates. He would now put the resolution that the re-
port be adopted.
The resolution was put and carried unanimously; u was
also a resolution declaring a dividend at the rate of V. 10a.
per cent. for the half-year.
A resolution was then pared confirming the arrangement
with the West London Company, and another authorising
the directors to purchase certain shares in the Coventry
and Nuneaton and the Birmingham and Leicester lines.
The audit committee for the ensuing year wee appointed,
and one or two other formal resolutions having been
agreed to,
Sir C. Sims suggested that a committee should be
formed to consider in what manner the proprietors should
testify their respect and obligation to the chairman on hie
retirement.
Mr. LOCKS proposed that the matter should be left in the
hands of the directors, and he was confident the proprietors
would moles* in whatever the directors determined
upon. (Cheers.)
A SHARISHOLDIR seconded the proposal, which was
cas-
tied unanimously.
The CHAIRMAN said he could add nothing to what he
had alreadyeaid. He should be always sensible of the kind
manner in which he had been received on all occasions, and
espesially on this last octagon in which he had the honour
of meeting them.
The meeting then separated.

1 METROPOLITAN COMMISSION OF SEWERS. Yes-
terday, a return to parliament, obtained by Sir John Shelley,
M.P., was printed of the names of the officers and persons
now employed by the Metropolitan Commissioners of
Sewers, the offices they have held and now bold, the salaries
I paid, the data of appointment and the duties discharged,
and attendance of each Commissioner of Sewers, at each
meeting of the commission from the let of January, 1862,
to the 7th alt. The return extends to 14 folio pages. The
secretary has 8001. and 1001. in lieu of apartments vacated
by him. There are fourteen commissioners and only one is
paid. There are a great many persons in the employ of
the wenrafetiosen, and their name are set forth, with the
amount of salutes.