The Express.
London, England, 1862-08-21 00:00:00

LANCASHIRE AND YORKSHIRE.

•
The ii;lf-yearly meeting of this company wax
held at Minchester yesterday' IL W. WICKHAM, Esq.
chinnau of the bead, presided. The report and
accounts gtheady published) were taken es read.
The Caltmetatt regretted that he had to meet the share-
hoiden on this occasion in the face of a dinenishing revenue
and dividend,. bat his responsibility was lessened by the
kneeled. tint it arose from circumstances altogether be-
yond the control of the directors. It arose, in feet, from
circumstances well known to the shareholders and the
public—the dale/say in the supply of oaton and the see-
sequent suffering of trade and the non-employment of the
working classes. On the other baled, he was rejoiced tome that
the parmesan interests of the company were not likeky to
be'effected by it. He believed that with the restoratioe of the
cotton supply, they might again look forward to an is.
crewing revenue and acmes* dividends, became be foiled
that it wee chiefly over that portion of their line which
was in the cotton districts that their receipts wen affected.
In Yorkshire theirrevenue was fully maineaieed, ate indeed,
had exceeded anything they lied blown is feeler yen.
After gong into sorce partisans as to the extent to which
the receipts had fallen off in passenger, =anbeeliNes, and
other departments, be regretted that boy Joel sot been
able to diminish the orlds( amuses is same ratio,
which we owing to thew neamity, 8.011141 eras, of running
the mime aomber of Maas, and keeping tip the same staff
of servants. The rails on tome part of the line
had not Listed so long is bed been anticipated, and
owing to tint sad other muses there bad heat an increase
of cost in the maintenance of permaame way, but the
proper maintenance of the permanent way was a matter of
the utmost importance, and one which be thought would
fully justify the board in reference to this increase of expen-
diture. He also explained that 30,000/. had had to be
taken from the revenue this half-year to the renewal fund,
instead of 18,000 i. as in previous half- yams, but showed that
even with this increase they were net extravagant as com-
pared with other companies, the North Eastern heeler to set
aside 124,6161., and the London and North Weatern,W,o97l.
The expenditure on capital amount this half-year had been
70,0001., instead of 40,0004, which was the amount for which
the board asked credit at the last half-yearly meeting. Be
acknowledged his dissatisfaction with this fact, and said it
was the intention of the beard in future to confine
themselves to the amount intimated as requited, and
if that was not suffieient to complete the works
it was contemplated to stop them till a further sum
could be taken. (Hear, bear.) The money alluded to bad
been required for enlargement of stations and other works
at Chorlev, Bury, Wigan, Manchester (Victoria Station),
Mirfield, Leeds, and other places—alterations which were
needed to carry on the traffic with greater economy and
efficiency. With regard to the recommendation of the
board to vote 5,0001. to the Operative Belief Fund,
be said that their line was one which received great support
from the operatives, and it was proposed to give the money
in sums of 5001. a month, so that if the distress should not
last so long as was feared, it would be in their power to stop
their contributions.
Mr. ANDUS (director) seconded the motion.
Mr. BROOCH said the chairman had not referred to the
quarrel with the Londoeasd North Western Company, and
the ejectment of the Lancashire and Yorkshire servants
from the west end of Victoria station. He was of opinion
that great economy was likely to result from the working
together of the two companies on an amicable foot-
ing, and thought that the expenditure of 150,0001. on
the new viaduct to the Victoria station might be avoided.
He suggested that a reference of the disputes between the
companies should be made.
Mr. JOSHUA BIELDiLV complained of the directors having
exceeded the amount they bad taken power to expend on
capital account, which had beau alluded to by the dour-
man, and contended they were only justified in doing so
under very excieptimal circumstances.
The CHAIRMAN mid, in answer to Mr. BROOCH, that
they boned to save by making the new viaduct, and en-
largiog the station.
A long but unimportant discussion took place on
matter of account, after which,
The Comeame moved that a dividend at the rate of at
per cent per annum be declared, which was agreed to.
The CHAIRMAN then moved that the meeting, deeply sym-
pathising with the sufferings into which the operatives have
been plunged, authorise the directors to set aside a
sum of 5,0001. towards their relief.
Mr. ILtacatr.ar es seconded the resolution.
A SHAREHOLDER asked if this vote would be legal?
Mr. ATKINSON, of Ashton Heys, objected to the vote.
He had paid to the relief fund, and, being a shareholder in
many other companies, might be called upon to pay more
than be ought to be called upon for.
The CHAIRMAN explained that the vole was not strictly
within the power of the company, but as each share-
holder (*old object to his own portion being taken off his
dividend, there would be nothing illegal in what they were
doing.
The motion was carried on a show of hands without oppo-
sition.

CORK AND KINSALE JUNCTION.

Yesterday the half-yearly meeting of the share-
holders
of this company was hold at the offices, 17, Grace-
church•street, Lord Bnralut in the chair.
The directors, in their report, regretted that they were
not in the position to announce the opening of the line, as
they had at the last half-yearly meeting announced was
likely to take place in the iaterval which has since elapsed.
The dnappointment had arisen from the contractor having
failed to carry out and complete their engagement before
' the let of July, fot which they had rendered themselves
liable to the penalty specified in their agreement. A por-
tion of the hoe, however, from Cron Barry to Jape Mill,
would be opened far traffic in about three weeks from the
present time, and the works mu the remaining portion of the
line were so far advanced—the permanent way being laid—
that they looked forwarct to having the whole line completed
and open for traffic before the end of the pre-
sent year. The amount of capital' received in
deposits and calls was 43,i1501., and of that sum there had
boon already expended 42,6305, leaving in haod 42035, inde-
pendently of the amount raised es the company's debenture*.
Of the original shares of 101. each, there rematped. unpaid
1,370, representing 13,7001.
The GrummAtr, in moving the adoption of the repeat, said
the company, without insuring thy Lability itself, bad
arranged with the Magnetic Telegraph Gowan) for the ex-
tension of their wires the whole length of the Ilse to the
old Head of Biwa% which would heath the arrival of
American and Australian news. He bad no dipsibt the rad-
, way, when in work, would realise all the profits they had
right to anticipate,
, Hr. Dowrinn seweeded the motion.
Mr. Ocothowth,,,the compioy's !Tenon, said the actual
works woad ukase whore than 5,00 W. per mile.