The Express.
London, England, 1851-08-21 00:00:00

NEWSY AND ENNISKILLEN RAILWAY.

Yesterday an ordinary general meeting of share-
holders in this company was held at the Guildhall Gotfea
House, Mr. W. F. SPACKWAN in the chair.
The SECRETARY read the notice of the meeting, wkiet
stated that it was convened fur the ordinary business of the
company.
A SIiARF.HOLDER wished to see the registry of pro-
prietors, with a view to ascertain who bud been buyers and
sellers within the last six months.
'f he CIIAIRMAN said this could not be shown without
the consent of the parties. No other company allowed suet
inspection; but the worthy proprietor, or any shareholder,
could refer to his own name. The directors had no wish to
conceal anything, but could not expose the affairs of two or
three hundred persons who were not press nt.
A DIRECTOR said the only thing of which inspection
could be demanded was the name and address book. This
hail been decided in a court of law.
The SECRETARY then read the report, which has
already appeared in the Express.
The CHAIRMAN was happy to say that the affairs of
the company had been brought within a very narrow emit-
pass. With reference to the past half.year, it would ho
seen that the directors had brought the dispute with tiro
Newry and Warrenpoint Railway to a very successful con-
clusion. The expense.' of the suit, about 1,000/. to 1,1001,
were to be paid by the latter, and the Newry and Ennis-
killen proprietors were therefore discharged hoot ail
liability. Ibis great object had been accomplished without
any sacrifice. Most parties present were no doubt aware
that the directors were rather large shareholders, and
therefore were naturally anxious that the affairs of the
company should he brought to an early and satisfactory
conclusion ; but this did not rest entirely with them or wit
Mr. Dargan. However anxious they might be, one thing
was essentially necessary, viz., that the Dublin and Belfast
Company should complete their line, to enable the Newry
and Enniskillen to make the contemplated junction.
The Dublin and Belfast Railway, where the junc-
tion would be formed, was to .be opened on the
Ist November, and in consequence of this an invita-
tion had been sent by that company to the directors of
the Newry and Enniskillen Company to proceed t, Dub-
lin, and enter into negotiations for a junction. He had
been chosen by his colleagues to undertake the duty, and it
gave him pleasure to state that lie had succeeded in re-
moving many obstacles, and that the directors on the other
side had met hint in the hest possible spirit, so that this
agreement might be regarded as concluded. Mr. Dargan
was to have the line, and pay the Newry and Enniskillea
Company 3,120/. per annum, which would yield abent ds.
per share. The Dublin and Belfast Company were to work
the line, Mr. Dargan taking the chance whether the
amount was more or less than the SOL per week he agreed
to pay. A very advantageous bargain had thus been amide,
and nothing differed materially in the terms compared with
those announced at the last meeting. Indeed they had
gained concessions,which made the bargain hater, though foe
particular reasons he could not then enter more closely into
details. Until the agreement was signed, it was just possible
that it might go off, but the probability was that it would
all he settled in twelve or fourteen days. This would site
new life to the company for many years to come. 110 ha .l
been desirous to sell or lease the line, but the Dublin and
Belfast Company had no capital to spare, and no pewee
under its act to do either. The arrangement made would

give their shares more value than if Lb; company had be,
sold at a low price, and he had no doubt it would meet wi:lt
their cordial approbation. 'Chen: was a claim made upon
the Newry and Enniskillen Company of nearly 4,000 F. Li
the Ulster Company, hut he was legally advi.o.sl that the
award of the Board of Trade was bad. The subj. et wouA
have the anxious attention of the directors. lie did hive
that when they disposed of that item, as there was only ono
other claim upon them, and which they had nearly fun la
enough in hand to meet, the company would be out of debt,
and by a small loan they would be enabled to meet Mr.
Dargan's outlay.
A SIIAILEIIOI.DER—TeII us all about that l'istor eon-

cern. (Hear, hear.)
The CllAlltMAN explained that the Ulster Compaity
had originally a guage different to that subsequently loot
down for all the railways in Ireland by the government, and
the various companies which obtained nets of parliament,
and were in connexion with the Ulster line were hound to
contribute their quota towards its alteration. Aceonling to
this the share of the Newry and Enniskillen Company
would he about 4,000/., but because the latter had reesiv.-1
so notice of the proceedings, nor been required to proultuas
any evidence he was advised that the award was de-
cidedly bad. It was bad also, the directors thought, b.:-
cause they were n..t morally liable, and could have no con-
nexion with the Ulster line, except at the Armagh Station,
and should not derive benefit to the amount of Is. front it.
Ile confidently expected that in this, awl in other matters,
they would prove successful.
A PROPRIETOR said it was preposterous now the
Newry proprietors were going to make only four miles of
thcir line, to award the Lister Company the same amount
as if the whole railway was to he formed. (Heir.)
The CHAIRMAN then moved the adoption of the report
and the reudeeti .... of the directors and auditors, which was
seconded, and carried unanimously
The CHAIRMAN further moved that the usual stunt ba
allowed for the expenses of the direction. The directors
had struck off 115,0040. of liabilities, had recovered 8,0001.
from the Newry and Warrenpoint, reduced the expenses to
I'3ol. per autumn, and recovered the whole capital by leas-
ing the line; therefore it might be called justly a paying
concern. _ _

_
The tuotion, being seconded, was carried, as also a vote
of 201. to the auditors.

....
The CIIAI ItNIA.N. in answer to a question, said thPy
would probably want 8,000/., which they proposed to ra;so
by a loan. The Warren pint debentures would liiptidato
this, and they hail besiiles.their forfeited shares to Nit back
upon, not one haying been sold. Ile hoped, theridhre, tho
directors would not have to call upon the shareholders foe
one farthing.
Thanks were then voted to the board, and the meeting
adjourned.