The Express.
London, England, 1851-09-01 00:00:00

SOUTH YORKSHIRE RAILWAY.

The half-yearly meeting was held at the Cutlers'
Hall, Sheffield, on Saturday. In the absence, through in-
divosition, of Earl Fitswilliam, the chairman of the com-
pany, the chair was taken by Lord WHAILNCLIFFI.

Mr. HANDFIELD (the secretary) read the report, from
which we extract the following passages The nett re-
venue for the six month* ending the 30th of June last
amounted to 20,2311. 9s. lid., being sufficient, with the
balance remaining on hand, after paying the fixed divi-
dends and annuities on the navigation and canals, to allow
of a division upon the railway .hares at the rate of 31, per
cent. per annum. The main line to Barnsley was completed
and passenger trains commenced running between that
town and Doncaster on the lot July last. The directors a
few days ago received a communication from Mr. George
Hadfield, of Manchester, conveying certain proposals for
the lea of this undertaking, purporting to emanate from
the Midland, and Manchester, Sheffield, and Lincolnshire
Railway Companies. Considering the agreement already
existing between this company and the Great Northern
Company, which agreement received the sanction of the
proprietors on the 11th of April last, the directors felt that
they were not in a position to entertain any other proposal
to which that company was not also a party.'
The auditors reported that they found the accounts of the
railway clearly and properly kept, and considered them
correct. With respect to the ricer Dun accounts, the
auditors believed them to be substantially correct, and that
the amount exhibited as a balance as enable for dividend
was a just one.
The CHAIRMAN moved the adoption of the report, and
went at considerable length into the arrangement with the
Great Northern Company, and the communication from
Mr. Hadfield referred to in the report.
Mr. HADFIELD moved, as an amendment, that the
further consideration of the report be adjourned to a special
meeting, of which notice should be given, at which meeting
also should be considered the proposal of the Midland and
Manchester, Sheffield, and Lincolnshire Companies.
Alderman HOOLE seconded the amendment.

Alter some discussion a show of hands was taken for the
amendment, the result being that there were 5 for and 34
against.
The report was then carried, with four dissentients.
Mr. HADFIELD asked what security was proposed to be
given to this company by the Great Northern. Was it to be
merely Great Northern preferential stock, or would care be
taken by the directors that they had the security of their
own property in addition?
The CHAIRMAN said the agreement bad not yet been
drum sm, but the directors would take care that the pro-
prieties Imd the greatest possible security.
The warethas, after aiming the declaration of the divi-
dend neekkkedel k the report, terminated with a rote of
thanks to the elehsen.

LIEENHEAD, LANCASHIRE, AND
CHESHIRE JUNCTION RAILWAY.

On Saturday afternoon the half-yearly meeting of
the proprietors of this company took place at the Monk's
Ferry Hotel, Birkenhead, Mr. Alderman Bascnorr, chair-
man of the board of directors, in the chair.
.

From the statement of accounts for the past half year,
it appears that the receipts on account of passengers, par-
cels,
nd mails, were 25,0601. 18s. 2d. ; for goods,
12,401. 41. Id, ; and for sundries, including a balance of
4311. 15s. 2d. from last half year, ,8331. 2s. 9d. ; making a
total of 39,4441. ss. Of thia nun, 21,0101. ss. Id. had been
expended, leaving for interest on bonds 3,6911. 158.8 d., and
applicable to dividend. 14,6821. 3s. 10d.
Mr. J. GIBSON, the secretary, read the report,
which stated that the fearful accident which occurred in
the Sutton tunnel on the 30th of April last involved
the board in great difficulty, and the consequences to the
company have been very serious. It goes on to state that:
The number of passengers on the occasion was far
gresase than they had estimated. Yet, notwith-
lesainn this fact, the provision made would hare
hem ralmt bat for the shower of snow and sleet which
MI MR iNtelbita. Ma the fact noticed in the report of
Coma& Lease, sad Illsarmed by our own engineer, that
one of the thiniseleme enrages were so far overloaded as
to mem the frame-week of the carriage on the wheels, thus
retreating the revolutions of the wheels, and, in effect, act-
ing as a brake. Although the board is not responsible for
the loading of the carriages at the Chester station, they do
not blame the officers or the servants of that station, as it
was clear front the evidence given at the inquiry that the
crowd was so great, and, owing to the determination of the
passengers to get off by the first train, so much confusion
was created to put it out of the power of the officers at the
station to regulate the number, who took possession of the
earriages. The directors have deemed it prudent not to
answer Captain Laffan's report till the question under dis-
pute is settled. In the meantime they do not hesitate to
state that the conduct of Captain Laffmn was unfair to the
company, and that his report is exaggerated and incorrect.
The board have had the account drawn up so as to enable the
company, if they think proper, to spread the expense of the
accident over a number of years. This course, they un-
derstood, has been adopted by. other companies, and it ap-
equitable. At a special meeting of the company,
Cleric:dm the 29th March last, the directors were instructed
to promote a bill in parliament to obtain power to construct
a branch line from the London and North Western Rail-
way, in Salford, for the purpose of enabling this company,
if they shall so decide, to establish a passengers' and goods'
station on the property of the Manchester Bonding Ware-
house Company; and the board have to report that the bill
was opposed by the corporation of Salfoul, but, notwith-
standing their opposition, has been passed into law ; and it
now rests with the company to determine whit course they
will adopt in respect of station accommodation at Man-
chester. On this point they have to intimate to the proprie-
tors that it will not be expedient to come to any conclusion
until the results of the negociation now pending are known,
and the board will not come to any decision in the matter
without first calling a special meeting to obtain the authority
of the shareholders on the subject. The board were
also instructed to oppose the application made by the War-
rington and Altringham and the Shrewsbury and Chester
Companies to obtain compulsory running powers over the
line. In the ease of the Warrington and Altringluun Com-
pany, the board succeeded in getting the clause giving run-
ning powers struck out of the bill, but in the cam of the
Shrewsbury and Chester Company the opposite decision was
adopted by parliament. Your directors do not conceal their
disappointment and regret at this decision on the part of the
legislature. It, however, remains to be seen how far the
decision, unjust in itself, can be rendered innocuous to the
company. The combinations proposed by the various rail-
way companies between Chester and the south, brought the
board into communication with the companies connected
with the Great Western Company, and, on the 29th day of
April last, a proposition was made to this company in the
following terms :—' The associated companies to pay the
Birkenhead Company 3 per cent. per annum from 30th
June, 1862, to 30th June, 1866 or 1866, 3f per cent. for the
following year, with all additional petits made on the line,
and afterwards 4 per cent. per annum in perpetuity, or
the option to be given to the Birkenhead Company
to enter into the proposed amalgamation with the emanated
companies. This proposal, made no doubt in good faith,
was declined, being leas than the board had proposed, and
less than they considered likely to receive the meant of the
proprietors. Your directors having felt the inconvenience
of the objection raised by the London and North-Western
Company to the passage over the railway upon the terms
of the agreement of the 21st November, 1860, of the car-
riages and waggons of other companies, had an interview on
the subject with the directors of the London and North-
Western Comprny, the result of which was, a supplemen-
taryagreement dated the 21st July, 1841, which will be
laid fore you. By the agreement this company is
enabled to carry over the London and North-Western line
to Manchester any traffic brought to them in whaver cu-
rtsies it may happen to be ; and, in return, this company
undertakes not to charge for foreign traffic to Manchester a
lower rate than charged for local traffic."
The report of Mr. Loma, the engineer, stated that the
permanent way had been well maintained during the last
half year.
The CHAIRMAN having referred to the accident,
remarking that no one regretted that occurrence more deeply
than the directors, but that they had resolved to abstain
from answering the very unfair report of Captain Lama
until another occasion, concluded by moving the adoption
of the directors' report.
Mr. Trevor, Mr. Christopher Bentham, Mr. Cathrall,
Mr. 0. F. Barbour, Mr. Newbery, Dr. Holand, and other
proprietors, respectively addressed the meeting, after which
Mr. Jackson, M.P. for Newcastle suggested that the
report, except such portion as referred to the supplemen-
tary agreement with the London and North Western com-
pany, should be adopted, and that an adjournment for two
months should take place to enable the shareholders to con-
sider the effect and operation of that document.
After considerable diecossion in which, as usual, much
warmth was evinced, the propositioni of Mr. Jackson was
acceded to by the directors, and it was agreed to adjourn
until the Ist of October next.
The following gentlemen were elected directors, namely,
Mr. James Gandy, in place of Mr. Tootil, Mr. Peter Dick-
son, and Mr. Ceplas Howard and Mr. T. F. Madock were
re-elected. Mr. James Tyrer and Mr. H. C. Beim were
appointed auditors.
A dividend for the half -year end* the 30th June last,
payable on the 10th of September, was then declared as
iilows: the 271. 10e. shares, 45. ; on the 221.
Ames, 2s. 100. ; on the 311. shares, 3s. 10Id.

RAILWAY.

The half-yearly meeting of this company was held
en Saturday, at the London Tavern, B' street.
C. Fkan, Beg took the chair,_ when
The SECRETARY (Mr. Brown), read the report,
which stated that the agreement with the Eastern Counties
Coinpsny had bees finally settled. To aid in producing a
cereal 00-operation betimes the companies, it was rag-
ralthat one member of each board should be elected to
other. its soca u the directors had concluded the agree-
ment with the Rasters Counties Company, they ar
with Mr. Jackson, that he should complete tlairrit
into Cambridge, as a single line, for the lam foe
which he had previously agreed to Ind oastramors
to do it, and having made this arrangement, they
elnreto get porwrion of ths land, and after tome
dplacod Mr. Jackson in possession of the whole