The Express.
London, England, 1851-02-13 00:00:00

GLOUCESTER AND DE 1N FOREST.

The tenth half-yearly general meeting of the
shareholder' of the above company was held yesterday
afternoon at the Dell Hotel, Gloucester, K. Ham, Esq.,
chairman of the directors, presiding. The meeting was
fully attended, in anticipation of the trunsaction of im-
portant business, the following special notice having Stun
given to the shareholders.—" And notice is hereby further
given, that at the close of the general business on the attest,
named day the meeting will be made special, for the pur-
pose of considering and (if approved of) confirming an
agreement entered into between the directors of this com-
pany and the directors of the Great Western Railway Com-
pany, for granting a lease of the Gloucester and Dean
Eoreset Railway and works to the latter company, upon
ems which will he laid before such meeting. '
The CHAIRMAN addressafil the meeting, and glanced at
the original objects of this company when it was first set on
foot, and the object which it now profesaed. in order to ac-
count for the provisional agreement which it had been
domed advisable by the directors to enter into with the
Great Western Company.
The SECRETARY (Mr. Nash) read the directors' re-
port. The directors acknowledged the punctual payment of
calls, mid stated that considerable progress had been made
in the completion ofthe works, but it WWI feared that the
heavy portion of the South Wales hne,between the Gramm
and thepatow, and the bridge over the Wye at the latter
place would prevent the South Wales line being completed
iu time to open in the summer simultaneously with the
completion of this company's line. The works of this com-
pany'', line would be ready for opening on or before the lot
of June next. (Hear, hear.) The attention of the directors
was now particularly directed to the making the branch
line from the dock. at Gloucester to Overbridge. The Rosa
and Hereforl Railway was an undertaking of so much im-
portance to this company that the directors had agreed to
subscribe 25,000/. towards it. That would not require any
increase of capital on the part of this company, as its bor-
rowing powers would cover the expenditure. The report
concluded by glancing at the jiroposed agreement with the
Great Western Corlllkilly, and by stating that arrangements
had been made with the; Midland and Groat Western com-
panies for a joint station at Gloucester.
The statement of receipts and payments read by the
secretary showed the former to amount to 160,1071.94. lld.
There had been paid iu parliamentary and law expenam
14,6191.; and there was a balance in hand of 1.5,065/.25.711.
The usual formal resolutions, adopting the report, &c.,
were then passed, and the meeting was made apessal for the
purposes above named.
Mr. HELPS, the solicitor to the company, read the pro-
agreement between this company and the Great
Wrcelern Company. Its substance was as follows:—The
Gloucester and Dean Forest line to be completed by the Ist
of September, and on its completion the Great Western
Company to take a lease of it at a rent equal to per cent.
per annum on the total cost. That on the completion of a
railway from the Gloucester and Dean Forest Railway to
Hereford, the above rent to be increased to St per cent. per
annum, but this company subscribing 25,000/. awards the
capital of the Hereford, Ross, and Gloucester Railway Com-
pany, who have a bill now before parliament. Should no
Hereford line be completed, the rent of the Gloucester and
Dean Forest line to stand at 4i per cent. for five years, nod
then to be raised to 5 per cent.
A good deal of opposition was raised against the proposi-
tion by several shareholders.
Mr. H. BROWN, M.P. addressed several speeches to
the meeting, contending, drat, that they had no data to
proceed upon ; that there were no minutes of the inten-
tions of the Great Western Company ; and hinting at a
breach of faith. Ile contended that but for the difference
which had arisen between the Great Western and South
Wales Companies, this agreement would never have been
heard of. _ _ _

Other shareholders followed, and very different views
were taken of the effect of the proposed agreement by the
different speakers.
Mr. PRICE, one of the directors, made explanations,
with the view of showing the bond fide nature of the provi-
sional agreement.
The discussion had not come to • close when the last
train left.

LEEDS AND BRADEORD.—The ordinary half-yearly
meeting of the shareholders in this companv was held at
Leeds yesterday afternoon ; Mr. John Nt'adaingham, the
chairman of the board, presiding. The meeting was also
made special, fur the purpose of considering a bill, now
before parliament, for enabling the Midland Railway Com-
pany to purchase the Bradford Railway Company a stock
and shares on certain terms; the principal of which are,
that instead of continuing the guarantee of 10 per cent., they
shallpny for every:AN. share 1001. ; the purchase to be con-
cluded within three years, or otherwise the lease to remain in
force. The chairman cwressed himself strongly in favour of ,
accepting the offer of thu Midland Company, as it would put
an end to all agitation, uncertainty, and litigation ; observ-
ing that if it was rejected, the present half-yearly dividend
could not be distributed, but must be applied to pay the
demands upon them, and this stoppage of dividend would
be a great hardship to the smaller shareholders. Mr. Mur-
gatroyd and other of the directors expressed themselves to
the same effect ; after which Mr. Thompson, who opposed
the lease, withdrew his opposition, and the resolution approv-
ing of the bill was carried nem con. The business of the half-
yearly meeting was next transacted. It was confined to the
scaling of the register, the declaration of a dividend after
the rate of 10 per cent., to be paid on the 2-sth February
inst., and the re-appointment of a retiring director and a
retiring auditor.