The Express.
London, England, 1851-09-12 00:00:00

RAILWAY MEETINGS.

CHESTER AND HOLYHEAD RAILWAY.

The ordinary general halt-yearly in;eTing of this
company was hill yesterday, at the fusion station. S. M.
PET.), Esq., M.P., in the chair.
After reading the advertisement convening the meeting,
affixing the seal of the company to the list of sharcholders,
and continuing the minutes of the last meeting, the report
of the dirictote was read us follows:

—...--. .
" Although the returns of the Chester and Ilolyhesd
ltailway during the half-year under review have fallen far
short of those which its natural traffit when fully brought
into operation is calculated to yield, the directors are still of
opinion that, as time has not been allowed for the comple-
tion of the works and arrangements which arc Essential to
the development of the real capabilitiks of the line, the fol-
i lowing comparative statement, abusing the earnings of the
railway anti steam boats during the first six inouths of 1830
and 1851 respectively, together with the amount of working
expenses by which those results were severally attained,
may be rewarded as satisfactory
"For the half-year ending 30th June, 18.50:—Railway re-
ceipts, 57,4811. 31. 10th.; expenditure, 31,637/. 10x.64.;
profit, 21,8131. 15.. 4d. Boat receipts. 1,0891. lds. ; ex-
penditure, 9,9031. 17s. Bd. ; loss, 5,81 G/. Is. 6d. Net profit,
16,0271. 131. 1041.
" For Cu. half-year ending ?.oth June, 1851:—Railway re-
ceipts, 61,6621. 134. 9d.; expenditure, 33,1E11. 14s. 84. ;
profit, 28,4771. 19s. ld. Boat receipts, 4,2061. 31. Id.;
expenditure, 6,6391. 101.9 d.; lose, 2,4311.4. Bd. Net profit,
26,0461. 135.11,1. The difference beinc—ln railway receipts,
4,1811. 7s. 114.; expenditure, 2,4521. ISt. 10d.; total,
6,6311. 3s. 91. In boat receipts, 1181. Ss. 11d.; expenditure,
3,2661. 64. Ild.; total, 3,3841. 15s. 101. Net profit,
10,0181. 19e. 7d.

"The question of remuneration for Irish mail service
performed previously to the op..ning of the Britannia-
bridge, from which date the contract with the Post-efllce,
concluded in 1841, came into operation, has at length been
settled, with the eeeption of two months at the commence-

went of the period in question, by a reference from the
arbitrators to the umpirago of Mr. J. A. Roebuck,
whose award gives the company—fur single mail, from
30th September, 1,48, to 18th June, 1849, and double mail,
from the latter date to 2:nli March, 1840, 28,1251., which
sum, although considerably above the estimate of the go-
Verna:lent arbitrator, is below the present contract rate.
The works on the original contracts arc now being com-
pleted, and the directors being desirous of finally arrang-
ing the capital account, have instructed the engineers and
accountant to take the necessary steps to that and. Of the
new works adverted to in the last report, the extension at
Holyhead has been most satisfactorily finished below the
estimatt 1 coot, and a goods station is now in courac of for-
mation, which, with the new passenger atation, will enable
the company to afford better accommodation to the public,
with greater advantage to the railway. The arrangement
made with respect to the.Carnarron Railway having been
entered into with private individuals, who have since
been incorporated into a compan_y, under act of parlia-
ment, it is neveasaryi as a matter of form, that the contract
should now be confirmed by both companies, and your
sanction it sought for accordingly. The report of Mr. Lee,
the resident engineer, upon several of the matters adverted
to iu the foregoing paragraphs, is appended fur your in-
formation. The revenue account shows a balance at the
30th of June last of 31,3481. 19e. From this sum must he
deducted 24,7611. 19s. tid., being the interest paid upon
debentures on the 10th of July last, leasing a net balance
of 6,596/. 190. Gd. available for dividend on the preference
shares ; and your directors recommend that a dividend of
as. Id. on these shares be declared aceortlinly. Mr. John
Lambert having resigned his seat at the boird, the directors
have elected in his stead lir. Reynolds, of Cocd-du, in the
county of Flint, with a view to the benefit of the under-
taking from the local knowledge and influence of that gen-
tkman. Mr. Philip Ilanhury having resigned, the share-
holders are called upon to elect an auditor in his place."
The ENGINEEILN report was also read as follows:—" I
beg to report fur your information that the extension of the
railway for the passenger traffic to the pier at Holyhead is
now completed, and I am proceeding with the erection of
the stage for the accommodation of the goods and cattle
traffic, which I hope will be ready in November next. One
of the coal shipping machines is now at Holyhead, and will
be fixed in the course of a month fur the coal traffic. 'the
works of the Bangor and Carnarvon Railway are in a for-
ward state, au.' the line as far as I'ort Ilinorwig will be
opened by the end of January next for the slate traffic, and
the other portion to Carnarvon about the beginning of
April. The works of the branch railway to Port l'enrhyn
for thu carriage of slates from Colonel l'cnnant's quarries
are now in a forward state, and will be completed and toady
for traffic by the end of next month. The permanent way
and works of the main line and branch railway arc in good
order and condition."

The CllAntal:lN in moving tha adoption of the report
and account said that they would and from the report that
a considerable increase bad been made during the last half-
year in the receipts of the Company. Looking to the fact
that the increase was proceeding in the same ratio since the
accounts had been made up, he contemplated during the
current half-year run increase of 20,0001. over the COM-
sonding period of lust year ; and seeing that the increase
had been obtained al.thouah all the resources of the line had
not been fully developed, they bad every reason to believe
that the concern would become a profitable rind prosperous
one. Wish respect to the traffic with Ireland, it was clear
that the whole of the traffic to the south, and a great portion
of the traffic to the northern parts of Ireland must be carried
on by the Company, because the route by Liverpool occu-
pied 20 hour:, while by Holyhead the time was 131 hours,
giving a great advantage to their line over that by way of.
Liverpool. During the half-year the directors had succeeded in
extending the railway to Holyhead, and had provided
every comfort and convenience for the passengers. The
traffic with Wales had fallen off this year from the fact of a
great number of persons from that locality going to the
Exhibition. having seen the able management of Mr.
Roney on the Eastern Counties Railway he had scut that
gentlentan to Inland to make inquiries and arrangements
with respect to the booking of through traffic from Holy-
head to all parts of Ireland. By the middle of November
they would have every accommodation for carrying on their
trutlie to any extent with Ireland, and great results must
Necessarily follow. He was happy to say that they might
expect a large increase of their slate traffic from Wales
during the next year, and that their line was in the hest
working order. They were in unity and harmony with the
North Wotan Railway ; at the same time they were
perfectly independent of that company. Thee would this
year be able ,to pay the preference stock, and their present
position was most satisfactory. (Cheers.)
Admiral MOORSOM seconded the adoption of the re-
port, which, after some discussion, was agreed to.
The CHAIRMAN their moved that a dividend of 3s. Id.
be declared on the preference shares, to be paid on the Ist
of October—Agreed to.
A I'ItOPRIETOR moved that Mr. J. Lambert be ap-
pointed auditor of the company in the room of Mr. Ilan-
bury, resigned.
Another P ROPRIETOR proposed that Mr. C. Henmau he
appointed auditor.
On reference to the register it was found that Mr llen-
man did not possess 20 original shares, which he must have
to be eligible for the position of auditor.
Mr. Lambert was therefore elected auditor.
The meeting was then made SPECIAL.
The CIIAIRNIAN said that the special meeting had
been called for two purposes. The first was to consider the
terms and conditions of the resolution of the general meet-
ing of the 18th March, 1841, as to additional capital and
preferential shares, and, if deemed expedient, to vary or
rescind such resolution, or any part thereof, and to create
other shares in lieu of those thereby created, and to make
arrangements with holders of such shares for effecting the
purposes above mentioned. The second was, to consider
and authorise the making a contract with the Bangor and
Cimarron Railway Company fur working and using their
railway and the maintenance and repair thereof and as to
the traffic passing along the some and the Chester and
Holyhead Railway. The chairman concluded by moving
the following resolution :
" 't hat the directors be and they are hereby authorised to
enter into and execute a contract, with the Bangor and
Carnarvon Railway Company, for allowing them the
through transit of traffic brought to and from their line
over the Chester and Holyhead Railway, to the effect of
the resolution of the general meeting of the 30th August,
1840."
The resolution having been agreed to,
A vote of thanks to the chairman terminated the business
of the day.

SHREWSBURY AM) BIRMINGHAM
RAILWAY.

Yesterday the half-yearly meeting of this company
was held at the Lion Hotel at Shrewsbury ; Mr. 0. 0011 E,
M.P., in the chair. The bon. gentleman was accompanied
by Mr. Butt, Q.C., of the Western Circuit, as his legal
adviser.
The abstract of accounts showed that the entire expendi-
ture on capital account has been 1,336,2271. 16e. ltd., and
the receipts, including 135,0001. on preference shares, and
42,7001. has been 1,333,0001, leaving something under
4,0001. owing under the head sundries. The receipts for the
hut half-year savants to 14,827!., and the expenditure
about 14,8001. The dividend due to the preference share-
holders is to be pee eat of the sum properly accruing to the
class A shareholders km their eveiribution to the Stour
Valley. After this smell babas" will be left ; but there
is a year end halls dividied die to the class A shareholders,
which must be paid Wan any dividend can be made on
the original stock. The shier points of the directors' report
appeared in the Espeweeperiteeday.
la the course of the afailimf.' report there was the fol-
lowing passage : " We have gone into the appropriation of
the expenditure of both accounts, with the assistance of
Messrs. Quitter and Ball, professional accountants, and we '
believe the same to be correctly made, with the exception
of the amount under the head of ' Extraordinary Ex-
penses,' 2,5631. 12s. ad, charged to capital, which we are of