The Express.
London, England, 1849-03-27 00:00:00

BRITISH AMERICAN LAND COMPANY.

Yesterday the annusl meeting of this company wan
held at the London Tavern, Bishopsgste-street, for nceiving
the report of the directors, and on other business. Aux.
ciittasrla, Esq., the governor of the company, having taken
the chair, the SIICHIITART reed the report of the directors,
from which we make the following extracts :
" The commissioner's estimate of income, at the com-
mencement of the year, from mortgage debts, timber, and
rents, was 6,0001.; the actual receipts from these sources
have been es follow: Mortgage debt, 4,8021. 111. 10d.
timber, 1731. 81.; rents, 4971. 12a. Id.-5,4731. 111. Ild.;
The sales on credit allow an increase of 11,50131 acres, amount,
15,6731 7s. 7d. over the past year:
The total quantity mold being 25,9181 sere. for £14,828 1 7
And in the town of Sbtrbrooke 3 aeree for

Showing an amount of 25,9211 scree for £13,697 12 6
And the average price
The average rim of the lands sold, as stated in the last report,
was 13'. Id per sere; the diminution in the price obtained
arises from the bulk of the sales effected being of the unim-
proved lands in Rotten, at 10s., and in Orford, at 7e. 6d. per
acre, in pursuance of an agreement entered into with the
French Canadian Amodation. The expenditure within the
year exclusive of the payment of 1,4191. 155:10d. on account
of the railway, amounts to 8,0751.16 e. 6d., including
1,9111. 185. 2d. for management. Of this sum, it will be
observed, th charges for management, &e., only amount to
1,9441. 18s. 2d., the remaii.der having been required for in-
vestments approved by the Court of Proprietors, and deemed
menial for the ultimate prosperity of the company. The
expenditure has been generally confined to thous townships
where the bulk of the sales have taken place, an-1 which would
not otherwise have been effected; the total expenditure for
the year on the real estate, comprising 606,273 acres, being
1,3681. 125. 15., fully one-half of which has been made b
credits on land. Thirty miles of the St. Lawrence and
Atlantic Railroad are now in actual operation, and trains
run twice a day to St. Hyacinthe, which is within 16 miles
of Acton, where the company's territory commences, and is
one-third of the entire distance from Montreal to Sherbrooke.
The eOllll any's investment in this undertaking stand, thus:
—Stock subscribed for, 2.5,0001. ; paid thereon, 15,0001.
After much anxious consideration, the directors have arrived
at the conclusion that no benefit could be desired by for-
bearing any longer to make a call sufficient to complete the
payments. In their last report the directors Mated their in-
tention of calling 21. per share, bat intimated that a sum of
about 6,0001. would still remain due, which they then enter-
tained some hope might be provideefrom the Canadian rc-
souries; in this, however, they have been disappointed, and
fedi, that nothing but disadvantage could ante front re-

I have also a letter from Mr. William Fenton, who :ling that nothing but 5u...... ~,
is a banker in Rochdale, the son of Mr. Fenton, who maining in debt, they deemed it expedient to extend the
amount shave per share, in two instalments of 301. ;
for several years represented the borough in pulls- but they the confident expectation that this will beetthe
ment. Mr. W. Fenton, like Mr. Chadwick, is aunder
.. last cell that, any circumstances, will ever be made on
county magistrate, and I give an extract from Ma the proprietors. The directors who go out by rotation are,
letter: Alexander Gillespie, Esq.. the Governor, Russell Ellice,
BANK, Rochdale, Much 24, 1849. Esq., Thomas Poynder, Eq., James B. Elio, Esq., and
My dem Sir.—l am very unwilling to stir up the embers Robert Carter, Esq., auditor, who, being eligible, offer them-
of as old party contest, which I bad hoped, except selves for re-election."
as a matter of history, bad been forgotten with the The CHAIRMAN, after replying satisfactorily to some
shags of antagonism which it earl,. 4 in the taws ; questions as to the acconnts,moved the adoption of the report.
yet at I hays been requested to state what I mewl- Mr. CLARKE asked in whet position they stood as m-
int of the truth of the at egstioss made by you in the house girded the call.
sa Mr. Trelawny's motion. I have much pleasure in bearing The CHAIRMAN Boldest 4,000 shares bad been already
my testimony to the general accuracy of your statement, paid upon, leaving about 1,200 in armee in this country, be-
dsits, impugned by Dr. Molesworth in the Times. At this sides 600 or 700 shun which were in the course of payment
distance of time, I cannot say whether Dr. Moleswortb in Canada.
was hooted by ten, or five, or three thousand, but es to the Mr. SANDERS hoped the director' would see that those
hatbf the hooting I have no doubt whatever. in default were made liable to the payment of interest, which
I remain, my dear sir, very truly, yours, was only just to those who had paid up to promptly. (Hear.)
J. Bright, Eq., M.P.
I have also received a letter signed by a number of
Wirimaiia Fitterore. The CHAIRMAN said the direcun would certainly do
to the re-
respectable inhabitants of Rochdale, from which I Wm I
ibili of the shareholders, it was understood when this
that in justice to the rest of the proprietors. As
extract the following : 25 0001., in the Tenser company, that the assets of this con-
Wecourtby a vote took a number °taboret, to the extent of
have seen with surprise that the vicar of this parish
has published a letter denying the truth of your statement in did
should be responsible for that amount. The directors
did expect the funds would have been forthcoming front the
the H, use of C 013160121, with regard to the events which oc other side, so as to have prevented this tall being made en
cured in this town during the church rate contest in the the proprietors, from the value of the land, timber, &c. to be
yesr 1840. We can bear witness to the truth of you state- taken by the railway company, hut the state of the money
market having been so depressed, the progress there had been
meat. The troops were called out, mod unneceicarily as
we believe. The vicar did proceed through the town retarded. The directors bad, however, the pleasure of saying
on his we. to the vicarage attended. IT an katmense, that this would no doubt be the last call ever made on the
crowd, 1661 such was his IllpOpULSl6suchl, and prapriewn. (Rear, hear.)
i part, the report was adopted =smi-
ths abhorrence manifested of his conduct in pro' After some discussion, in which Mr. Anderton, Mr.
mbiatanganainhdoopteresid
indinga
2001riner,etrhethaeot contest, that
hthavaet
behene
mostW White, and others took p
gamey.
humiliating to himself and most painful to his hinds. As Mr. J. J. CUMMINS (deputy governor) drew attention
your townsmen, end well acquainted with the frantic*" to the improved condition of thhi company. They had now
an amount nut at interest on real proprrsy of 70,9001. They
had also 600,000 acre. of land, which were in the way of
you felt it your duty to make in the Home of Commons. very rapid settlement. With three facts before them, and
Amongst the signatures attached to this letter are the prospect of the completion of the rail
t.f-stithoitrirint erttflff, truthmaily oyfeanthe"vety wee futetullb°stauntedmtoenblart whichwir
way so contiguously
the following to their property, ho trusted this lost =ll of V. would be
0. Ormond, leather-dealer ; T. Ashworth, manufacturer ; unanimously met by the proprietors.
Om. Mansell, draper; J. Petrie, jun.;ironmonger; Charles The directors who retired by ro'ation were Alexander
IParry; Joseph Sugden, leather dealer' Thomas Turner ; Gillespie, Esq., (the governor) Russell Ellice, Es q., Thomas
Thomas Robinson, timber-merchant; J. Wood, ir,vidon Poynder, Etq. and James B. BIM,. E.q., who were re-
dealer ; James Gibson, dyer ; &e. elected unamm'ously.

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