The Express.
London, England, 1849-09-08 00:00:00

LANCASTER AND PRESTON.

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The annual =gorse of the shareholders was held at the
compuses arr. Laseestsr, on Thursday last; Mr. I.
Bosmax is the chair. After the martin had been formally
ennstituted, the seeretary read the report, which stated—
'The director do not think it to recapitulate the
many Important matters which have so neatly engaged
your attention within the last eighteen menthe, as they have
all been so reply disclosed at your several meetings. con-
vened for the pupae; and they resider it will be sunk:rat
new to state—That you have a bard of directors whose posi-
tion is now no longer questionable. That your differences
with the Carl Company, with referent's to the lease, are
sow terminated. That your rent, or the main proportion of
it, has been paid. That you haws an arrangement with the
Lancaster and Carlisle Compaay, by which the fair and full
value of year property is secured to yo%; and that, u all the
unexampled difficulties by whisk your interests were
recently Jeopardised have now been entirely removed,
your directors believe tbst they have therefore
rood reason to congratulate you on your present padtioa.
From the revere account you will order • brume of
19.8191. 31., the entire amount of which would have been
applicable to dividends, wen it not that a ratios of the in-
terest of your 'nonage debt, and some other outgoings, not
yet amettained, will have to be met by yin directors pre.
vier Mare being in receipt of any mutes from the Lou
errs and Coffilia ffiffiway Company ; r the arrangements
whkthat ammomy only commenced an the Ist August last,
and senrequeatly the first reseipt from them will
only err to hand in the !south of Feb
next. There is, however, so ultimate lass insured,
as your income is accruing in the mean time.
In pursuance of the nomination of your late Board of Dino
tors, your Chairman has taken his seat at the Lancaster and
Carlisle Board, and the Lancaster end Carlisle Railway Coat.
pany have elected your vier-chairman as your representa-
tive at till. it beard, thinking that such selection) would be
agreeable to yes. By the arrangement with the Carlisle
Conroy, your setters In Preens and all your reelable
property an reserved to you and your directors are wing
their best endeavours to realise their value and place It to
your capital asionant as expeditiously as passible. It is so
manifestly your huffed to redeem the annuity of 4.8761. se-
cu red to the Canal Company previous to Mzear POat, that
your immediate stunt ice is required to that s
_ _

The CHAIRMAN maid th; directors reesseadied a
dividead et 36a 6d. ea the whole sham. & dd. ea the
three-quarter ahem. sod Oa. 44.. a the wieder ammo. Ho
mend the adeis left mat
Mr. HADNIIIE esseeds4 the isidiss.

After MOO esavuessies, al so meat. the newt eras
lout in the venal hem. end serried by eseleautien.--lb.
MAXSTID thee seed Yet a dividend, in the ratio ansgesamil
by the &news, be deetmet—Mr. CMULUTIIIIS mended
the motion, whisk peed unaalassualy.—The Catalano,
proposed that Kr. Janes Whiteside, Dealer, sod Mr. W. B.
Kam, be appointed auditors, at • salary, not of sea, bat of
U. a year seal. (Laughter.)—Yr. Moons seeded the
motion. Carried by sasisisstioo.—Mr. WILLOW neat moved
• resolution for mu tine the directors, but leaving the
amount to be Bred by the shareholders.—Censiderehle die-
Arlon followed this motion, Mr. Hadnen and ate or two
others thinking any remuneration unnecessary, es the
duties of the directors would be little more thee
nominal for the future. Eventually, the min of two hun-
dred guineas was agreed to be plaoskat the discretion of the
board. A rather warm debate then ensued, on the sus/grated
elides to compensation of Messrs. Brucker and Oillow, of
Liverpool, for expenses incurred in voluntarily obtaining
counsel's opinion, AA, during the dispute with the Cana
Clumsy. The propo•ition was finally negatived. Mr.
11,dgann, Y. P. for Carlisle, was unanimously appointed a
d.reetnr, In the place of Mr. Coniston. On the motion of
Mr. HODGSON!, 4001. was voted to Mr. Bushell, the Chair-
men, and Mr W. Jackson, the Deputy Chairman, of the
board, as a slioht token of the esteem of the sharehniden for
their able extrication of the company from its di/Realties.
The compliment having been suitably acknowledged by
both gentlemen, the proceedings terminated with a vote of
thanks to the Chairman.