The Express.
London, England, 1849-08-17 00:00:00

forward the works ins manner best suited to the eircum-

stances of the time. We shall get rid of the expense of an
independent direction and management; we shall obtain
1 other comparatively minor advantages, and I am
satisfied that when the proprieten came to be informed of
the details of the arrangement, they will concede that the
are the most prudent and conciliatory. (Loud Cheers.)
The auditors of the present year have thought it
right to make a special report, rather of a fuller cha-
racter than has hitherto been the practice. I am sure
it must be satisfactory to the proprietors, as it is gr offying
to the directors in these days, when so much is *aid about
railway accounts, to observe what they say with respect to
the amounts of the Great Western Company. Our accounts
have always been most carefully distributed under the heads
of " revenue" and " capital." We believe there is no
body of shareholders, be they who they may, who have
so deep an interest in the establishment of a sound and
efficient system of audit as the direc•ors themselves. We
are, as is not always remembered, not only directors but
shareholders in this company—(cheers)—and wo have, there-
fore, a strung interest in looking after the affairs of our own
property. It is essential to us for the vindication if our
character, more especially in these days, when the name of a
railway director has almost passed into a term of opprobrium
and re preach. (Cheers, and a laugh) It is essential for our
protection that there should be an ettitient system of audit.
(Cheers) It has Men determined that a meeting
shall be held of the representatives of the different railway
campanies upon the subject, iu the month of Sep/ember
next, at the close of the vacation, and I can /ovum you that
the representatives of this company will go to that conference
fully resolved to render the system of audit so complete as
that there shall not remain any pretence whatever for the in-
terference of the government. (Cheers.) The principle re-
commended is contained in the special report of the auditors,
and is, that the shareholders should "appoint two or three
of th, it body to meet the directors from time to time, and
confer with them on the regulation of it, and on the exercise
of their powers with regard to the ou•lay of capital, and on
the modification of their plans." And in a subs, quent part
of the report, " upon every question of retrenchment." I
am 'sure that Mr. Gladstone and Mr. Dickensm will
do me the justice to say that the moment they mentioned
this subject to me, I said I was satisfied that the di-
rectors would most cordially concur in that recom-
mendation. In point of fact we always have been most
willing to confer fully and freely with our shareholders.
I, is necessary that you should feel a perfect con-
fidence in Time directors. It is necessary, and most import-
• ant and vital to you, that you should
• have fallen upon other companies by interference and ho-
t prudence, and by internal dissensions. (Cheers.) It is in
I this spirit, and with this view of seeing all the directors
' and proprietors bound together in one common bond of
s union to carry cut one common object—the interest of
/ this company, and not in any feeling of distrust, that we
I now suggest to you to bring among us some directors
recently chosen by yourselves. It will not be competent to
you to do that at the present or at any adjourned meeting.
• It will he necesasry that you should have a special meeting
convened for the purpose, that all the proper notices may be
, previously given. We shall probably call the meeting some-
- where about the middle of September. I believe I have
. new touched upon all the important subjects connected with
your interests.

- The chairman resumed his seat amid loud cheers.
The SECRETARY then read the report of the directors,
and the engineer's report, of which the following are
copies :
" The income from traffic as shown by the accounts to the
30th June, has been derived from working 306 miles of reil-
way during the first four months, and 229 miles during the
last two months of the half-year, the lease of the Bristol and
Exeter line to this company having expired on the 30th April.
That circumstance has prevented any complete analysis of
traffic for the half-year being made in the accounts, by way
of cone:arisen with that of former periods. It is • satisfac-
tion, however. to state that the gross revenue, earned in re-
spect of Great Western lines exclusively, during the first six
months Of 1819, has increased by 13,0001. over the same period
of 1848.
" The only additional lines opened iniermetli itely were
the two branches to Westbury and Basingstoke, together
twenty-seven miles. It is to be observed on the other hand,
that the South Western Railway to Staines and Windier
came into operation as a rival line, abstracting some portion
of the traffic which used previously to pa -afro= that district
ever the Great Western Railway.
" Arrears for former poet-office services, received at that
time under the award, were credited for more than 15,0001.,
in the accounts to June, 1848, which will explain the ap-
parent recess in the receipt fur mails beyond the earnings of
the half-year.
" The system of return tickets, available for two or three
days according to the length of the journey, which had been
adopted on these lines in more pre aperous times, 66 a means
of augmenting that branch of traffic, having ceased to create
the progressive increase of revenue which was anti-
cipated, and being discovered to give rise to fraud, was
discontinued in the month of November last.—By a careful
process of examination of the traffic during the six subsequent
months, it was ascertained that, while the receipts& the com-
pany had increased in the agoreoate by the abolitien of those
tickets in respect of passengers travelling the long journies,
there had been a falling off, not only in number of, but also
in income from passengers travelling Oie: the ahcrl'„; *a.m...
lances ioesween iiit"ln"l'"l^ 7.l'''.`lhs. no result of this
investigation induced the board to introduce single gay.
tickets, limited to an allowance of 25 per cent 'open the
double fare, which have b. en ia operation e'.nce the Ist
May, and this encouragement given to a description of
traffic which has been always coneidereble on the Great
Western Railway, seems at present to have answered the
!Waal-
" With respect to expenditure, there has been a total re-
duction of 29,4001. over the corresponding period of 1818,
and of 15,4001. over that of the last half-year.
" Under two or three heads only an increased payment
appears to have been made, which upon a careful analysis is
accounted for, as respects ' maintenance of way,' by a com-
paratively heavier charge in consequence of the new lines
opened ; and by the transfer to that account of s doe ex-
penses for improved drainage, &c., which might seem to
belong more appropriately to the ' construction ' than to the
maintenance of works. In the amount paid for salaries of
' superintendents and clerks,' and in ' general office establah-
ment,' the apparent increase arises from the circumstance of
two sums of 1,4311. 10s. 7d. and 6001. respectively coming
into charge as paid early in this half year, although apper-
taining more properly to the former ; an inequality which
will occasionally arise from • mere contingency as to the
data of payment.
" In the' Carrying Expenses,' the sum of 1,2761. 18s. 9d.
has been included as written off fir losses in that department.
The' Compensation Account ' comprises a charge of 2,5001.
to meet all claims upon the Company, in respect of accidents,
which sum it is proposed, with the approbation of the au-
ditors, to continue in each half-year by way of insurance
against all risks, until the expenses for the Shrivenham ac-
cident shall have been liquidated, and a fund shill have been
created of 20,0001. to meet any future claims of the same de.
scription.
"The directors are still using every exertion to make further
prospective reductions in the expenditure of the Company,
feeling how extremely important it is to introduce the most
strict economy in every department of the service, which
may neither expose the public or the proprietors to risk of
loss from inefficient management.
"The auditors having delivered a sloecial report, which hse
been priated and circulated with the accounts, it becomes
the duty of the directors now to advert more particulary to
the important subjects which it embraces.
" It is impossible that the board should concur in the re-
commendation of a reduced dividend of 4 per cent. per
annum, without the expression of deep regret at the necessity
of such a step. It will be perceived by the accounts as
now published, that the revenue is charged for the first
time with interest on a consi 'treble sum expended for lines
either abandoned or not in progress, as well as on sub-
scriptions to otter railway companies which cannot at present
pay any dividend or interest to their other shareholders.
By this precautionary measure, it seems both to the &rectors
and auditor, that the permanent value of the undertaking
will be more effectually maintained. It has the advantage
of stopping in respect of those payments, any increasing
burthea upon the future receipts of the company, and the
reduction of the dividend will enable them to provide means
f d fund, gradually to meet engagements or ex-
tinguish unproductive capital.
" The result of the accounts for the half-year which
might otherwise have yielded to the proprietors a dividend
at the rate of 5 per cent. per annum with a small balance
over, will only supply fends for a dividend of 4 per cent.
per annum, leaving, however, the sum of 18,0201. 'ht. 10d.
is a balance, to be hereafter appropriated as may seem most
advisable.
" The directors cheerfully express their acquiescence in
the suggestion of the audi-on, that the proprietors should
themselves at this meeting appoint a committee to consult
with and advise the board upon matters of general interest
and importance in the future adminisiration of their affairs.
Being actuated solely by a desire to do everything which
can be supposed likey to give confidence to the proprietors,
the directors have also resolved, if it shall seem to the meet-
ing desirable, that some change should be made in the indi-
viduals composing the board, that they will give effect to
such wishes by arranging for the retirement of four of the
present directors, to be replaced by the same number whom
proprietors may think proper to apooint. While offering
this suggestion, the directors will not be rendering justice to
themselves or the company, if they neglect to state, that it is
neither the purpose nor the wi,h of any of their body to
abandon their trust at the present time, from any apprehen-
sion of difficulties attending it.
" Siege the last meeting, and in fulfilment of a pledge
then given, a vacancy has been created by the retirement of
Mr. Hollond, in order to elect Mr. Crosthwaite of Liverpool
(at that time an auditor), as one of your directors. This
appointment rendered it necessary that he should invite some
influential and responsible shareholder, well qualified for the
ditty, to act in his stead as one of he auditors of the ac-
couuts for the half year, un it a new election could be made
at a g-neral meeting ciethe proprietors. Mr. Thomas Stuart
Gladstone, of Liverpool, was good enough to undertake upon
this occasion the duties of that office, and he with his col-
league Mr. Diekinsen, have devoted much time to the exani.
nation of the accounts ; but Mr. Gladstone has apprised the
board, that he will be unaide any longer to act in the capa-
city of auditor, and that some other preprint, r must there.
fore be chosen et this meeting as the successor to Mr.
Crostiiwaite.
" The completion of certain lines of railway now in pro-
gress—vie. : the Oxford and Rugby to Fanny Compton, the
Birmingham and Oxford to Birmingham, and the Windsor
Railway, have engaged the careful attention of the board for
some time. In reseed of the lines beyond Oxford, the di-
recto,s have b en, and still are, in communication wit: the
London aid North Western Railway Company, as to the
beat means of saving all unnecessary outlay of cepitat. and
retrenching some of the expenses attendant up makme sepa-
rately two rival lines of railway. The railwq to banbury

„

(

'O•4

I ri
'1)0

will be reedy foe traffic early in the Spring, and the Windsor
Railway will he flni-hed in °ember.
" With r.gard to the Wilts, Sonersee, and Weymouth
Ressl:2, the works on several poroms, p
sensed, rovimisly
have been furs me time either :elated or stopped ;
sad the completion in the first instance of the main line to
lime and Warminster, with the branch into the Somer
@stake C.sel Field at Radmock, seems to the directen the
111" ht advisable plan of Ur the development of
areas from those at the least outlay of capital.
no guarantee span the ills, Somerset, and Weymouth
dims of tear per out per imam. being unconditional and
positive, the direetee4 Weald have been prepared to manes
imead to this meetleg that the .tormking should be at ,
ewe tak-n over leader the power. of their set, (subjct te
of axed charge in respect of those shares), for the purpose
of &Nelms/ that
appear and laving a separate eataldieh-
asent, if it did not appear to he anticipating the decision,
paviessely to ropesaltatioa with the committee of proprietors,
Which is proposed to be appointed.
have reason to know,
" The s.inetees of this company
that reels plan would be acceptable to the Wilts, Somerset,
and Weymouth Railway Board, and if, upon conference
with all parties, the arrangement be owl deemed advisthle,
it can he submitted to future Dustings, for confirmalon by
both companies.
" With respect to the limited and conditional guarantees
of this company, for leases of other line:, it may be proper
here to mention that the directors have felt ittheir duty, re-
soluttly, t decline any new agreements which may tend to
increase suroisting liabilitits; and they have relawd to eater
into any ei.eagement to raise further capital than that for
which this company has already contract. d.
" Upon them various objects, as wed as in relation to the
future expenditure of the company, the board will readily
and unreservedly consult with any committee which may be
appointed under the recommendation of the auditors; ant
it seems desirable that the coadVions upon which a re-
served font ought to be provided should be maturely
opalidered in the same manner, before the proprietors are
willed apJa to comminit themselves to the details of that

MICMUri.
" The directors confidently trust, by a pendent and cep-
aomical application of the te.oll/01,4 of the comptny, with
en improving traffic, to be antanated as new lines may be
brought into operation the proprietors submitting in the
mean time to the ndairtion of dividend deemed most con-
ducive to the permanent value of the property, that the
nadertakiag will recover from the terorrary depreciation to
aria it is subjected, and that the shareholders will derive a
men adequate ressuneratloa for the r capital.
" The engineer's report on the state of the works is ap-
pended to this ripvrt."
EllolllllBlei RIPORT.—.' Gentlemen,—The works upon
the several lines of railway at pram* in course of construe-
** by this company, have, with the exception of those upon
the Widvisor branch, been proceeded with very slowly due-
lag the last six menthe, the rates of progress having been
kept strictly within the limits fixed by you; upon the Bir-
mingham' and Oxford Railway, notwithstandiag the slow
rate of progress, however, the principal works are approach-
fag to completioes. The viaduct into Birmingham bus been
Waggon Vished, and thence to Warwick the whole of the
line is in a forward state. Between Leamington and Fenny
Compton, the principal work—the larbury Cutting, is far
advanced, and I wait only your directions to proceed with
the coon eine loop-line at Remington.
Upon the Oxford and Rugby we are now preneding
somewhat more rapidly thanwe had been previously doing,
is order to complete the works and permanent way for a
missile line between o:ford end Dublin ; on two thirds of
the distance the works and balintiag are complete, and
reedy d r receiving the permanent way, for commencing
white preperations are now saskiag. The principal works
required to complete this line are in the neighbourhood of
Oxford, and these are being proceeded with rapidly. I
should h ipe that a sines line of rails, with stations upon
• moderate scale, sufficient reedye local traffic of the
trict may ne completed end to open to the public early
is the nest spring.
Upon the Wilts and Somerset Railway very little hes
pbees dune, the principal object being at present to coat
late the line to Frome and to Warminster, both within
ale miles of the present terminus at Westbury, where the
Rae reaches the former town, it will be brought within
teeth of the Ratite& coal district, and I should hope that
by mews of the Redstock branch, a colliery line of eight
or nine Laos in length, that the whole of the coal of this dis-
trict may be brought upon our line.
"Upon the Windsor branch the works have proceeded
=l , the whole of the viaduct end the rte: of the Ilse,
in exception of the bridge across the Thames, b
finished, ballasted, and the permanent way is laid ; a tempo-
pry bridge has been for some time past constructed arose the
river, end straegemenu might have been made for opening
the railway with such contrivance a month or ea weeks ego.
The permanent bridge, which is a work of some mogul-
twit, being of a single span of 200 feet, is is a very
*ward state, two of the three ribs or arches of which it
consists being is place, and the third, which has been en-
tirely completed. and proved at Bristol, is in course of deli, i
very ea the spot; is a few weeks this will be quite finished.
The completion of the station will govern the opening of the
Lae ; every endeavour has been made to *ranee the' since
on weld be obtained of the requisite houses and
Cdes7i I -hould hops that in the coarse of next month, it
will allow of the opening of the willwer
s' The works upon the new lines which have been lately
=,4's well as upon the main live, are in a perfectly sa-
e:median, and I have every reason to believe that
the entracte for the maintenance of the permanent way will
had to economy in this branch, as well as to the seeming a
good state o the line. During the past half year many
work• in drainage and ballasting had to los executed in order
to hand the line over to the new contractors in a perfect
Mate, which have added to the ball yearly outlay ; but such
extra expenses will be diminished under the new con**.
Yon will observe with eatisfactiou also, that under the excel-
lent management of Mr. Gooch, the oat of locomotive
power is still further reduced, as wall as that of carriage and
waggon repairs, both of which soar* of expense are closely
ocanected with
Team state of the permanent way and works.
gentlemen, your theddnt servant,
I. K. BRUNEL.
12, Hake-street, Westminster, August 13.
The CHAIRMAN moved that the report be received,
aillvand printed for circulation.
; COURT, having seconded the proposition, observed
mmthe cheirman had brought before the notice of the
ania. a subject which he regorded as of the most essential
importance—he alluded to the appointment of public Wi-
nes by the gevernmest to audit railway accounts. The
adman emaed to think that a public auditor was totally
tanseeemary, but he (Major Court) considered that the
aosounta pre seated to them that very day showed the
utility of such an officer. Major Court then proceeded to
point out several items in the amounts, which he said a
public auditor would not have pawed in the form in which
they appeared in the statement. He did not think there
was any foandation 'or the apprehensions of the chairman,
that the appointment of public auditors would lead to the
Interference of the government in the management of rail-
ways. Ths dutise of the auditor would be strictly con-
flated to the audit of the accounts, to ascertain that
*improper or illegal items were included in them. He
could art conceive on what ground it could be supposed that
the government would billet clerks upon the railway compa-
nies, or interfere in any way with their internakmanagement.
Rs did not mesa for a moment to throw any *potation on
the perfect honour end integrity of the chalrman and direc-
tors; es the coatrary, he reposed the utmost anifidence in
and should be sorry to see any of them retire. But
they would not always have the present chairman and direc-
tors to wad* the slain of the company, and he, therefore.
thought as a mewure of precaution that any man who had
any regard for the interest. of his family should firmly sup-
port the *polemist of public auditors.
A lag disemsioa then took place on some of the topics
referred to in the report, and upon the finandel position of
the company. It was complained that while the financial
statement of June, 1848, represented the liabilities of the
company to be 80,0001., a sum of 158,0001. had sines been
paid for parliamentary expenses *weed previously to
that time Mr. Saunders denied that the accounts delivered
la June, 1/348, or at any other time, bad stated the liabilities
of the comp.iny ; for that it would be quite impossible to
give a statement of Weal libihties, sheep: upon speculation.
Mr.'. MERCER, jun., recommended, a general redaction
in the Ward e of the officers
The CHAIRMAN said, they bad not proposed any reduc-
tion is the salaries, sir would he recommend such a course.
flair prisciple was, to pay every officer es much as his ter-
micas were worth—(ltear, hear)—and he believed that, if
they wen to cat down the salaries of their officers, they
would eventually greatly increase the expenses of the com-
pany. Meer, bear.)
Mr. AVERY asked whether any means had been taken
to relieve the company trout the heavy charge, made upon
them for garechisl rates ?
The CHAIRMAN replied that there had bees meetings
lithe Menton of several railway companies, with a view to
dada an alterstren of the law, bet they tad to contend
xthe goverment and the leaded interest, and so far
Ths had
adaoodet seessaf
oo dike
them report wm agreed to.
Tba CHAIRMAN moved that a dividend for the
kelf-year gaffing the 30th of Jaw ho paid after the let of
/cep ember neat, at the rate of her per cont. per annum—
Agreed to.
• moieties woe then edopted in dafarraity. with a re-
ammendatio• of the report sheds, the regulations respect-
ing the election of diredm
Ms. It. ATKINSON, of Kirby Loud*, was appointed
in the place of Mr.
one of the auditon of the essimay,
Crinthwaite, who had hem sleeted a &teeter.
la the over.• of NM eiseeeeetisa is the subject of ex-
oaselea wean, the Chime behmetei that it was the idea.
ties el the wawa le milts peellemeat for power to M-
emos their amino Me el *saw
• vele et *mks wee thes pew& to the chairman, dirge-
ton, and auditors, mad tic meeting broke up soon after 6
eels*.

GREAT NORTH OF ENGLAND.
One mere relarday of the half-yearly
nestles el the I ,et et the Greet North et
Belleeq, held it allea. Sellelift
kW. is seeemplease el the Mom et tholes, et lAA* the
%theses wee wrawasseL WI hew she a Met report of the
preweilegs
The repeat steed ithth aloe purled wben the aim-
mat tee the kits of dr seam W the York. Newcastle,
wei Demi& 011owm, elm epsaalee, oh, the let et
;sly, Mb.
Neese dirthises bath set esseeived it
M mitres pregeithen with ferthel report, =
es the smegetheat of the )fee bed beta oohed to the
heath la the peeler Medals, howayse, is white the
warm is Awl. mist the metres he perehme et the
sethm by the Testy Nevem* awl Berwick
Ike Or ease kg that se the Wee he the
SWthe pewits* appeepsisep, namely, the ht et lolyiTri2
SW sib ipselelli WINK 10 albs* to it ea the

occasion by the circulation of sundry reports is some of the
railway and other journal% meculated to be prejudicial to
the in lyre of the shareholThe reports v
ial to
generally is, ly a doubt as to the pirtect legal idity
uf the contract, and the consequent pawn of enforcing
it, should the pureamieg cottpiny be deposed to ev-de
it, which there was no ground to anticipate. Although
the directors thenteelvis had no doubt as Rota e per-
fect validity of the contract, they recently aevery
document relating to the sale, purchase, and lease of
the Will before counsel, and they gave it as their opinion
that there dim exist a perfectly valid and binding "attract,
by which the York, Newcastle. sad Berwick Company can
be compelled, oa the Ist of July, 100, to purchase the
Greet North of Ragland Railway on the terms mentioned
lin the deed. In conclusion, the directors recommend that
the usual dividend at the rote of 10 per cent. per annum be

adopted,
Tie CHAIRMAN, on moving the adoption of the report,
Paid he would be glad to hear any observations.
In reply to quatioos from Mr. HUMUS and Mr. J. SAKS,
The CHAIRMAN stated that on Friday last he had had
a conversation with the committee of investigation, and they
informed him that they had also taken the opinion of wan-
sel. That opinion threw a doubt upon the legality of the
leery, and stated that in cote its legality were disputed, it
world necessarily induce litigation, sod the contract might
be thrown into a court of equity, and payment might thus
be pat cif fur yeses. It had been thought that if the York,
Nelmsdin and Berwick Company were to issue their deben-
ture bonds neat month, at 4 per rot., fur six years,
giving 2501. for the 1001. shares, which are now in the
market at 2311. ; 1001. for the 401., 751. for the 301., and
371. 10s. for the 151. sharer, it would enable th whole mat-
ter to be brought to an amicable dose. Hewm perfectly
mire that the security of the bonds was undeniable. The
anoxia of borrowed money of the York, Newcastle, and
Berwick Company was now under 1,000,0001. Their powers
to borrow might be incremed to 3,000,0001. ; at present they
had power to borrow upwards of 2,000,0001. He was eon-
vinced in his own mind, considering all the eirmunstances,
that to mean justice to all parties, if these bonds were of
feted, it would be best to accept then. Notice had been
given on the 30th of June last to the York, Newcastle, and
Barwick Company by the Oreat North of England Company
of their intention to have the purchase carried oat. It was
probable that only large sums would be paid by debentures,
such as 5001. to 1,0001, but smaller sums would be better
paid in cash.
This statement was considered to be satisfactory, and,
after scene further obeervations, resolutions were passed
adopting the report and approving of the dividend.
The proceedings concluded with a rote of thanks to the
chairman.

NEWCASTLE AND CARLISLE.
On Wednesday the adjourned meeting of the shareholders
of this company was held, at the Assembly-rooms, New-
cas•le. MAT. PLUXIIIR, Esq., presiding.
The CHAIRMAN, in opening the business, briefly observed,
that at the last meeting he stated that they had not suc-
ceeded in getting through parliament the bill for smalga-
meting the lines, and as Mr. Clayton had since then
returned from London, he would exj lain the reason why
they had not succeeded.
Mr. J. CLAYTON then said that with respect to the bill
referred to he had nothing professionally to do. It was con-
ducted by the solicitors of the York. Newcastle, and Berwick
Railway Company, and he could bear his testimony as to the
ability with which they did their duty. Mr. Clayton then
entered into a brief detail respecting the progress of the hill,
first through the House of Commons, and next in the House
of Lords, where, after certain alterations having been ef-
fected by a committee appointed by that house, it was finally
brought up for the third reading, when Lord Monteagle de-
boned a tirade against the York, Newcastle, and Berwick
Railway Company, and concluded by moving the appoint-
ment of a government auditor. The bill ultimately was
Wen back to the House of Commons es altered by the
Leeds, when it wee proposed and carried that it be read that
day six months. The bill was consequently lost.
r. P. ELLisou said that after the explanation just
ghee, he begged to ask what was the position of the
5y relative to the agreement entered into with Mr.
I The Cstatzusit said it was well known that the agree-
met was for a leased the line for three years for Mr. Mud-
, sea Limself, and then, at the expiration of that term, on
behalf of the York, Newcastle, and Berwick Company. He
(the chairman, was aware that Mr. Elliman gave his con-
sent to the leasing of the line, but not to the amalgamation
of it : but if the bill had passed it would have either beta
the one or the other. As to Mr Badmen's agreement, he
was not swan whether In was supported by the share-
holders of the York, Newcastle, and Berwick Railway
Company or not.
Mr. CLAYTON begged to oluiene that the shareholders of
that company were not discouraged at the late proceedings,
and were prepared to take the line according to agreement,
awl, v soon as convenient, would apply to parliament to gat
the necessary powers. In the meantime, he could ammo
them that Mr. Hudson's agreement would be strictly per-
formed by him, as well as that which followed it.
The enamour said that another important piece of in-
telligence he had to submit to them was, that the first half.
year's interest on that agreement would to paid °Ohs 31st
of the present month. For himself, he would say that he
had no dcubt whatever of Mr. Hudson fulfilling his engage-
ment, and also that the shareholders of the York, Newcas-
tle, and Berwick Company would see it to be their interest
to complete the bargain, which could not fad to be of groat
advantage to them.
Mr. ELLmox never for a moment wished to doubt Mr.
Radom'. intentions. AB he wanted was to know the precise
=of the Carlisle and Newcastle Company, and, that
bus saris known, he was satisfied.
It was stated that the receipts of traffic would in fetters be
paid into the lishemi sf the erispe ny.
The CMALVARAM fete moved Mat a dividend for the past
half-year be emiefel4 at the men et 6 par seat., payable on
clan 31st August.
This hangs bola aped* the midis loam lip.

THE SUBDIVISION OF PARISHES COMMIS-
SIONERS ON CHURCH RATES.

"We are aware of the difficulties connected with
the subject of church rata, as affecting the division of
parishes, bet it appears to us essential that we should offer
some suggestions upon it in this report, since, in our opinion,
the present state of the law is at once vague, defective and
unjust, and rums the chief obstacle to the establishment of
a sound parochial system.
" It has been urgently represented to us that the law, be
its present state, inflict' a very serious hardship ea Na
owners of property, in distinct and separate polar
and district parishes, by compelling them for ram
not only to provide for the expenses of their own
but to contribute towards repairing the mother church. Is
the ease of a chapelry district, cut off from a distinct sad
separate or district parish, the grievance is still greater ; for
although the inhabitants, during that period of time, pay
a double rate, vis , to the mother church and to the dis-
tinct and separate or district parish church, they have germ
rally to provide fir the repairs of their own chapel also, by
voluntary contributions, thus virtually incurring the burden
of a third rate.
" The moat obvious remedy would be, that every division
end district should be liable to a rate for its own church or
chapel only, and ter no other. Such • rule, however,
could not be immediately and universally applied. Some
special provision must be found for those cases, in which
there are still existing charges on the church-rates of the
whole original pariah, for the repayment of monies borrowed
for the general ecclesiastical purposes of that parish, and
alto for cues in which the mother church has contributed,
by rates or voluntary contributions, towards the erection of a
new church ; and probably also for other cases wh a very
poor district only may have been left to the mothershurch,
1 that church being perhaps large and dilapidated, and requir-
ing frequent and expensive repairs.
" We are of opinion that the Church Building Commis-
Moen Mould be required to reconsider the boundaries of all
divisions of subdivisions of parishes which have been effected
under proper authority, with special reference to the clues.
tion of a just and equitable distribution of the church rate,
and then to recommend your Majesty in council to fix a
time whoa the new parish may be properly and fairly
exempted ham the double rate, and the remaining part of
the original part*, and the new parish or district, severally
made liable 'sly he the repair of its own church or chapel ;
and wo reammad that each parish or district should
then
in= en open parish vestry, with all
tho ess, and provisions applicable to
vestries of pa= churches, with separate ehars►-
esu,
ems down by the inhabitant
rhoperdeedee parish or district, and the othraertritias:
ineambeat ; and *at the churchwardens belonging to wry
new perish or dialog *mild, so far as may be pracideahle,
have the emse pewee a/ mein the parishioners ea is re.
seemed by the sheishersedues of old parish cholas
sad wader sae desamilimem we recommend thaAs**
remiss Mu* lads *a Church Building Acts t
übsia be
abolished.
" llama dielselty may eras in cases where on eadeeneist
hoe tem left, either foe the exclusive beat& of meter
*mak or for dmeehlibiarpesse within the whit I mad es se
meraalbinile mull be applied to all web eassajt sans
• that pewee deal with than shoo* he slew to
the char* hod** arausissiouers.
" Ohs of the IMO serious obstacles to the sash* sale&
vides of pathos is lewd is those /91611011111 irai ale of
paeans* **II bees mmeersed nate& motels ia
Aim hem the operlaseadsa of the Ono*ta BOMB. Asia plt
appease le us, that this obstacle to church extriao% &slim
be rimmed."

Two MIN DROWNS]) AT lavurooL—Youtetday
worka=, the Woodside Mtkoattesnor, in midis ken We
nn spinet a boat, and bawdy mak ft.
There Were two nea in the at the time, mil both

EDINIVIONANDOLAIIOOW.—A requisition has been
..at to the direeten et the idlabargb and Glasgow &away
to eat• epeelel general muting, U 41% the view et shin tbs
Protrishell as erfweasn#7
_ reensidergb or Whir re-
seradisi, the reedatie• whim of
was wisp& two Team am,
rot
to Minutiae the d two hardy oseenser trim
The armors bus with the gersillg and also
sassed prostee Is be that thesolieus el Ow slur
fielders say be mobs tweed es fhb swedes. The
parties who have seat sersimidewhavellbewhosiimeed
to even ehrsoleeider • *oaks ealiselisi es dolma gro-
ssest it favour er rersurog the sunk. ear weering hew
day Wes, eadbrsable is the pulse Ilibria hr nearly
Ave yews after the Gulag ef the Ilse is 114!. This dr-
eam IN oohed firth • mum Lure wilseseed twat &a
ebessimbleu rail signed by SI sl their umber.
sahilehthe esmestly
daperrihesy devhden *era the surbeiew
Ireuelingsesplearfeleises imisplsd two