The Express.
London, England, 1851-07-25 00:00:00

TO YDS EDITOR OF VIZ DAILY NZWIL

81s,-1 send enclosed a post-office order for 11.
which pray add to the subscription which is being raised he
Ann Hicks. The order is made payable to your publisher.
I ans, Sir, yours, M. H.
Bearhydding, Otley, Yorkshire July 23.
[The money has been forwarded to Ann Hicks.]

LONDON, BRIGHTON, AND SOUTH COAST

RAILWAY.

Yesterday the ordinary half-yearly meeting of this
company was held at the Bridge Howse Hotel, London.
bridge, for the several pitman of the undertaking ;
to determine spa the esaaolon into stock of mak at
the Eighth Simi D, emceed ea the 19th day of A
1140111iiih muds the am1186418:72114.4.11 le confirm the forfeiture of certain
Aires, pm whisk the Galls have not been paid, and which,
ememaeon thereat, have been declared duly forfeited
noise veteute of the baud of directors." The meeting was
vevy 'numerously attended.
The chair wee occupied by SAXIMI, Lux°, Egg., the
chairman of the board of directors.

The SeettETALLY having read the advertisement convening
the meeting, and the seal having been affixed to the regis-
ter of shareholders,
The CIIAIRSIAN proceeded to observe that the report
(a summary of which appeared in the Express of the 17th
inst.) would, as usual, be taken as read, as it had been in
the hands of the proprietors for some time. In moving
that that report be received and adopted, he would trouble
the shareholders with very few observations, because the
principal topics of interest had been pretty fully adverted to
in the document in question, and also because this half-
yearly meeting took place at what might be called the
broken period of the year. It was well known that it was
only when the full results of the twelve months' working
were before them that the directors could enter into a fair
' companion of the receipts and expenditure. The principal
result was very satisfactory, that being the steadily pro-
gressing Menaiso of the traffic. Three years ago—in 1848,
ler instance—when the line now in operation was com-
pleted, the income for the year was only 410,4791. Since
then the directors had opened no new branches, with one
ur two inconsiderable exceptions, and, therefore, the
present increased traffic was the result of the gra-
dual development of the line. That traffic, during
those three years, had increased by upwards of 100,0001.
This year it would probably reach 070,0001.' thus showing
an increase of 120,0001. upon that of 1848. Although they
were exposed on this line to great vicissitudes—a wet day,
like the present, for instance, affecting their receipts 20 per
cent—still it was most gratifying to rind that the increase
had been steadily progressing, contrasting hslfyear by
half-year. A few items would show what had been done.
In the first half-year of 1848 the increase over the corre-
sponding period ut the preceding year had been 6 per cent.
In the next hall-year it was nearly 9 per cent. In the next
9} per cent.; in the next 61 per cent. ; in the next 7 per
cent. ; and, in the hail-year just concluded, it
was 91 per cent. Indeed, the half-year just con-
cluded was the best half-year they hail ever had,
because in that time they had received the largest per cent-
age increase' and the largest amount of positive receipts,
which it hed ever been their good fortune to realise.
There had been an increase of 40 per cent. iu the number
• .

UM to 17,110 W. in ISSI ; and the number of their casual
passengers had also increased. During the same period the
dividend, which iu the first half-year of 1818 had been 265.
per cent., or 13s. per share, rose in the corresponding half-
year of DWI to les. ful. Then, it advanced iu 18d0 to 135.,
and for the half-year just concluded the directors felt
themselves warranted iu raising it to Ifts. ; so that, whether
they looted at the line with reference to the increase
of the truffle, or the advance of the dividend, the last half-
year was unquestionably the best they have hitherto en-
joyed. (near.) It was extremely satisfactory to bear iu
mind what he had said befure, that the Increase of tragic
was toe result of the development of the ordinary line, and
that it was nut owing to the great Exhibition, which had
not produced any very favourable effects so far as the
receipts on the Brighton railway were concerned. This,
indeed, was naturally to be expected, because although the
North Western and Great Western lines, as the great
mediums of communication between the provinces and the

metropolis, might very fairly be exiZtted to benefit,
as they bad benefited by the Exhibition, still the
Brighton lino was after all only the channel of
communication between one county of England (Susses)
and London, and that line must in a great measure depend
on the pleasure traffic out of the metropolis. Therefore,
while the other railways had gained considerably during
the summer months of 1831, the Brighton hue had perhaps
rather suffered by the overwhelming attractions of the Ex-
hibition, which had kept not only the people but the money
in town. Still, they were getting their fair share of what
was going, fur great numbers were travelling up in the
morning, and returning in the evening, although Brighton
was by no means as full of visitors this year
as it had been in former seasons. At the same
time, as was stated in the report, the average in-
crease over the corresponding period of 1850, which,
during the tint four months of this year, had been
Ma per week, had, since the opening of the Exhibition
on the Ist of May, been only 4601. per week. Whether the
steady increase tit traffic would continue was of course •
matter of ,eeculation. It seemed to him that so long as
London and Brighton continued to progress that increase
might very reasonably be expected to gu on. As regarded
the future prospects of the Dieppe route, he could only my
that the direetths had placed it on the best foot-
ing by having got private and independent par-
ties to run the bents ; at the same time, it was not to be
denied that even such parties would nut continue to run
their boats unless they saw • fair prospect of realisiug
money by the enterprise. He thought he could himself see has
way to the making of from 10,0001. to 12,0001. a year by the
teethe thus brougut upon the Brighton line across the seas ;
and, if so, that ill itself would be no inconsiderable set oaf
against the competition of the South Easter.. Company at
Hastings. (Hear.) As regarded the expenses fur the half
year, the amount expended tor renewals had been altogether
11,8001., being about the same as it was for the corresponding
half-year of ItSli). The expense of the locomotive power
had increased, because there had been an increase of
mileage. In the carriage and waggon department the
charge this half-year was below the average, principally
because the stock Wail in good condition ; but this particular
head of expense would probably fall heavier in the next
half-year, when they would be able to bear it, as their re-
ceipts would then be larger. As regarded the capital ac-
count—a feature of great interest to them all—the share-
holders, he was sure, would give the directors credit for
having in 1848 made • careful estimate. The directors
had done all they undertook to do by that esti-
mate, and they now found themselves within the margin
of the final amount of capital they had at that time amnia-
pated. lle need scarcely inform them that himself and his
co directors had strenuously opposed the audit bill of last
session. They had thereby incurred much responsibility, and
they were anxious to ascertain now whether that responsi-
bility was shared in by the proprietors. That billattempted
to impose certain compulsory conditions upon them ; and they
resisted it because it was entirely uncalled for and opposed
to the views of the independent delegates whom the share-
holders had themselves appointed to consider the question.
If shareholders would be fools, and if directors would be
knaves, nothing could protect them • but if trustworthy
men were elected, both as directors and auditors, and if full
and satisfactory accounts were insisted upon, then the
shareholders would occupy the beet possible situation, and
any act of parliament on the subject was neither more nor
less than a downright humbug. (Applause.)
After some conversation, the report was adopted.
Cross the motion of the CHAULMAN, a dividend after the
rate of If. 18s. per cent. for the half year, payable on the
6th of August, was declared.
The eighth shares 1), on which the calls had been paid,
were then consolidated into stock, and those upen which the
r calls had not been paid were forfeited.
i The proceedings terminated with the usual vote of thanks
r to the chairman and directors.

ITHE LAW OF EVlDENCE.—Yesterday Lord Broug-
Foon's bill, u amended in committee of the House of Com-
mons, was printed. A new clause has been added to save
expense in criminal prosecutions by allowing a copy of a
former conviction, for which &s. 841. is to be paid, to be
received in evidence. The principle of this bill, which will
shortly become an act of parliament, is to admit parties to
suits in the superior courts to be examined as witnesses in
court. if a party is to be examined on his own behalf, he
must give prior notice to the opposite side. Such examina-
tion is not to be made in CANS of adultery or breach of pro-
num of marriage.

ADMIRALTY, JULT 24.—APPOINTMENTS.—Lieu-
tenant H. Boys, Surgeon C. B. Brien, Assistant-Surgeon
H. Girvan, to Cereowr. Clerks, F. Lorny, to Styx ; H.
Sanders, to Intpreynabk. Store-Receiver P. Horgan to
Woolwichiard. Agent'. Steward J. Rumen, to Haller
Hospital. Storekeeper R. Laws, to Sheerness-yard.
Second-Muter A. U. Whichelo, to Excellent. Master's-
Auiatants, J. Harwood and W. Baker, to Impregnable; N.
Barnes, to Fisgard. Gunner S. Slade, to Oberon.
PRONOTIONS.—J. Smith, to acting boatswain. W. Lacy,
to carpenter. J. Ray and C. Farrell, confirmed to rank of
boatswain.