The Express.
London, England, 1851-05-31 00:00:00

LONDON AND SOUTH WESTERN RAILWAY

Yesterday a yodel general meeting of the pro-
prietors was held at the Terminus, Nine Elms, to consider
the draft of " a Bill for authorising certain Deviations in
the Taw Vale Extension Railway, and for other purposes."
The chair was taken at 12 o'clock by Mr. CUAPLIN, M.P.
After the reading of the notice,
The CHAIRMAN said the object was, in fact, sanctioned
by the proprietors on the 2.5 th of October last, but the bill
having gone through the House of Commons, and being
now in the House of Lords, it was necessary, in order to
comply with established regulation., that the opinion of the
proprietors should again be taken. As some of those pre-
sent might not have been proprietors last October, he would
Nit state the principal facts of the ease. The South
Western Company took 7,080 shares, which at 16/. per
share, amounted to a subscription of 113,2801. in full.
lea yet there was no return, and the present arrangement
was necessary to render the investment productive. What
remained to he subscribed would be taken not by calls on
the Exchequer, but in the form of rails which the company
had in stock. A gentleman had agreed to take a lease of
the concern for seven years ; he was a person of undoubted
stability, and the amount which he would pay, 12,5001. in the
seven years, would give the company a net return of 21 per
cent. If the property proved more productive than tho
estimate, the company would have a beneficial interest in
the excess. On the Leith of the previous proceedings tho
Taw Vale Company bud proceeded with vigour in parlia-
ment, and the lirktol and Exeter Company who were also
shareholders in the concern, had got a bill through tho
House of Lord,. justifying their subveriptiou. It
would be recollected that the South Western Com-
pany had also an interest in the Exeter and Cre-
diton line. That line was now becoming productive,
and would be rendered still more so by the carrying
out of thin arrangement. The directors did not anticipate
say objection on the part of the proprietors. It was part of
the arrangement that they were not to be liable to &greater
amount of calls than was necessary for the purpose he had
stated. Tho Taw 'Vale line was 38 miles in length, and there
were, in all, 15,000 shares. The directors had every reason
to believe that the landowners would fulfil their engage-
ments satisfactorily. Lord Feiteseue, the great landed
proprietor of the district, had brought forward his son in
favour of the measure. Under these circumstances he con-
fident

,ntly looked fur cordial sap port.
The SOLICITOR then read the heads of the bill.
In reply to a question from Mr. JIEOAPATII,
The CHAIRMAN said the Taw Vale Company had
power to put an end to the lease by giving a year's notice,
and taking the working stock at a valuation. lie then
moved—

That the bill now read over to the meeting be approved
of, and the director 4 authorised to consent to such altera-
tions therein as to parliament may seem meet."
Mr. Serjcant tiAsEI.EE said he had been opposed to this
'scheme from the first, but, having taken the sense of the
proprietors once, he should not do so again. There was ono
point, howeler, on which he dt,ired some explatiation.
r hey had spent about 70,0001. already, and at the last meet-
ing the chairman said that 30,00u1. more would he required
in rails. lle would be glad to know how they had gut sad-
dled with the extra 13,280 f.

The CHAIRNIAN said the amount of the shares was not
fixed before, and parliament would not allow any reduction.
Mr. Serjeant GASELLE said the direvtors gut the con-
sent of the shareholders previously on wrong premises
The SOLICITOR observed that, by un agreement with
the Taw Vale Company, this company was limited to the
payment of 000/.
Mr. Serjeaut OASELEE intimated his intention of op-
pc.ing the alteration in the House of Lords.
The CHAIRMAN hoped the learned serjeant would not
put the company to the expense of going back to the HOUND
of Commons, which they must do if there were any anis wt.
meut. lie had no hesitation in giving a pledge that no
more than 30,n 00/. should be paid by the South Western
Company. (near, hear )
A conversation then took place on the subject of audit,
in the course of which it was observed by the Chairman
that the South Western Company would, from the extent
of their holding, he able to exercise the necessary control
as regarded the audit of the Taw Vale accounts.
Mr. Serjeant GASELEE was quite satisfied that after
the vote of Wtiltiesilay last in the House of Commons
railway directors would be on their best behaviour for sumo
time to come, seeing that they had the rod of the govern-
ment hanging over them—(laughter)—but he still thought
a tvre.Mtn.tkV.lVllw"wirigrtlii7od.k2:,unto.!vhat price the
rails were to be taken.

The CHAIRMAN replied that the directors hid got s
better price 01411 they but beru able to obtain iu any other
quarter.
The resolution was adopted, and the meeting separated.

TRAFFIC RETURNS FOR TII} PAST WEEK.

Mlle, opened. I Name of Ital.wae-

11850. 1 1851.
BRITISH. --
Aberdeen
Belfast and liallynien.i
Belfast and County Down l9l 2.4
Birkenht ad, Line., & Cheshire 1,314 1,309
Bolton, Blackburn, & W.York. 453; 725
Bristol and Exeter
Caledonian
Chester and Holyhead
Cork, Blackrock, and Passage
Dublin and Belfast Junction 239 620
Dublin and Drogheda BB4 861
Dublin and Kingstown
Dundee and Arbroath
Dunilec,l'erth, Aberdeen J une 6771 740
Dundalk and Enniskillen
East Anglian
East Lancashire
Eastern Counties and Norfolk 17,008! 14,084
Eastern Union 2,478 2,, 44
Edinburgh and Glasgow
Edinburgh, l'erth, and Dundee. 2,562, 2,369
Furness I 332 333
Glasgow anti South Western
3,664. 3,8.54
Ghuigow,l'aisley,iitidGreenock 1,077 1,103
Great Northern& E. Lineelnsh.l 3,631 10,434
Great Southern & Wester ii(lr) b 4,313 4,608
Great Western 7,207;20,193

s2'2

136'
221
143
188
230

rii~

121
470
5
171
239

11
28
491

831
160
011
6
49

1711
21i
188
v 621
90

Lancaster and Carlisle r 3,7501 3,876
Lancashire and Yorkshire 19,128115,247
Leeds and Thirsk 1,1571 940
Liserpool,Croshy, & Southport 1811 412
London and North Western
London and Markus:ill
London, Brighton, and S. Coast 12,118 15,876
London and South Western 111,775112,724
Londonderry and Enniskillen l 168, 166
Man., Buxton, & Matlock, &c.' 177 128
Manchester, Shell., & Liucoln 1 7,679 6,528
Manchesterand South Junction 1,1011 624
111aryport and Carlisle 6791 657
Midland 24,601' 21,006
Midland Great Western (ha ) 1,3h9' 1,306
Monklanda 5681 865
60 Newcastle and Carlisle

'.4
518
5
173
239

167
9
28
4%;
fx)

256,

North British

North Staffordshire
North Weston

2,5711 2,3.50
3,403 3,45

Scottish Central

Scutti.h Midland..

Shrewsbury and Birming
Shrewsbury and Cheater
Shropshire Union
South Devon
South Eastern
South Wales
SouthYork.,Donciuderec Goole
Taff Vale
Ulster
Waterford and Limerick I
Went Cornwall
Whitehaven Junction

4,928"; 5:036
524

1T442 1,883
469. 638

7331 i 35
1,6121 1,571
467 698
1,919' 1,867
13,786 13,076
- 1 1,001
1,035 1,181
2,696! 2,409
8781 919
- 1 368
282, 283
203 186

York, Newcastle, and Berwickl 16,050;14,818
York and North Midland 7,616 6,966
Fouatox.
Amiens and Boulogne
Dieppe
Monteresn and Troyes
Northern of France 17,430117,960
Orleans to Bourges (Cent.)
Orleans to Bordeaux
Paris and Orleans
Paris and ltouen
Rouen and 11.irre