The Express.
London, England, 1849-03-01 00:00:00

SOUTH WALES.

Eighth Holt yearly Meefissg.—Lesidon, Feb. 28.—Case.
Ruessu., E.g., in the chair.
The SECRETARY read the report, which stated :
" The directors have been steadily occupied in giving
effect to the determination adopted at the August meeting to
with the construction of the South Wales Railway,
gru:roei riesive portions, beginning in the tint instance with
the section which lies between Newport and Swine's, so
that that part of the line may be brought into operation at
the earliest practicable period. The directors have concus-
totted, for the present, ell their exertions and resources on
the works between Newport and Swansea ; and though the
presume of the times has prevented their prosecuting them
with all the rapidity that could be desired, not only
considerable progress has been made In all the lisafer works,
but that various detached portions, amounting in the whole
to about twenty miles, out of the entire distance of sixty
miles, are reedy for the reception of the permanent we' and
the rails, the laying of which will be commenced without
delay. '
Blintaltansonaly with these operations, the works on this
side of Newport are proceeding satisfactorily.
The directors had forfeiter those 'stares on which the
Red and 3rd instalmenta have not been paid. Their number
is 1,261, and the amount which has been received on them
is 4,1374 10a. The directors propose that those shares should
not be rsissaed until the improvement in the money market
shall be to confirmed that they may either submit some go.
nerd scheme for re-elloting them among the shareholders at
an advantage to them, or that they may be then gradually
absorbed, so as not to produce any sundble effect on the
value of your property. Tke forfeiture (tithes, shares does
not involve the consequent abandonment of the claim which
the company passages over the proprietors to whom they
belonged, foe the calls previously in urea,. On the con.
nary, it is the feed purpose of the directory to proceed to the
recovery of these sums in every cans which affords prospect of
meow. Their duty to those proprietors who have paid with
regalarity preseribes the adoption of active measures against
those who may be in swear on more recent calls.
" The half of the South Wales capital having now been
ogled up and received, the director recommend that an
authority should be given to borrow money on bond or
ifterfeliec
From the genital statement of receipts and payments, to
gist Dee., 1848, it appeared that the total receipts amounted
to 1,394,1991. 17e. Bd. TIN payments were stated to be—
& obtaining the act,. 54,4711. 124. Id.; works,
4s. Id.; permanent way, 229,2621. 3s. 4d. • laud
e•Papenaation 214,9111. 19s. 116. ; vendors' costs and
sapseesse, 9,4077.' fe. 4d. ; engineering and surveying
moms, 86,1131. 12s. 4d. • parliamentary anti law expenses,
41,5431. es. ed. • land valuers' expenses, 8,2431. 15e. 78.
pe4tingoltalleary, and sleuthing, 2,8321. 7.. 10d. ;
direction, salaries, posters, die., 14,3711. Os. ed. ;
expenses, including rent, rates, taxes, Re.,
1,1 3e. ; interest (dedne interest received),
43,8041. 18e. 6d. ; amounting to 1,272,2981. 111. 11d.; sub-
• " "..1 to Irish and Welsh smilwaye, 61,3081.; total,
Ile. lid. Pifferenee between receipla and pay-
-89. 9d."

1743_,Z

Alsoilandimiiii, Slogan wils adopted. The skew
sot ( falls swat ma flelbliad wore declared forfeited.
Tits rssoielsn weed Wo empower tt • (Weston to borrow
a 0.41 as bend or isortage.
Pillunno propsosd as an araoadment to add the
words, " tat the guarantee of the Groat Wotan Company."

The amendment, however, was withdrawn, and the resolu-
tion adopted.
The next resolution embodied a petition to parliament for
a revision of the principle on which parochial asserments now
weighed so h. Reidy upon Railways. Adopted.—Sir J. Guest,
Hart, M.P., Mcsars. Alston, Stephen Lewie, and C. R. M.
Talbot, M.P., were then re-elected directors of the company, ;
and Mr. Alexander Thurlman, auditors in the room of Mr. B.
Dobree, reeignxd.
Thanks haring been voted to the chairman, the meeting
separated.