The Express.
London, England, 1853-08-24 00:00:00

SPECIAL MEETING.

The meeting was 111/41111 vestal ft the purpose of contd.
derinc the question of " Ways and means,' for for the 'in-
structs/us of the Leicester and Hitchin line.
The ORAIIIXAN explained, with reference to this matter,
that they had a sumof 900,0001. uncalled on the
181.18 s. 4d. shares, but he thought it would be injudicious
for them to apply that particular sum for this purpose.
What they aid propose was, that they should avail them-
selves of other powers which they had and create 135,000
new five pound shares ; this wood raise 876,0001., and it
was proposed to borrow 225,0001., making a total of
900,0001., which was the estimated cost of constructing the
line. The new shares wen to bear a four per cent. rate of
interest, and the 51. to be called up in this proportion,
IL 10s. on the 24th of October in the present year ; the like
sum in April next year, and the remaining 21. also in Octo-
ber, 1864, with permission to the holders of the shares to
pay up the entire 61. at oat*. The board had
come to the conclusion that tbis would entail no
loss on the company : and as for the new line itself, why it
it was the last time he was to be privileged to address them
he would strongly urge them to make it, believing it to be
the most advantageous project ever attempted by the Mid-
land Company. For his own part, he would never rest
minded:se long as the Midland, with 600 miles line of rail-
way, was 80 miles from London. The bon. gentleman
moved a resolution embodying in detail the spirit of his
suggestions.
Mr. Banns, the deputy-chairman, seconded the reso-
lution.

Mr. RAMSAY, of London, denounced the scheme as one
fraught with mischief and lops to the holders of Midland
stock, who were now getting only 31 per cent., and were
asked to guarantee a new stock 4 per cent. Guarantees
bad been the ruin of every company ; he believed that the
Leicester and Mackin was a decidedly bad line, and that
the directon were only actuated by ambition in pro-
moting it.
The CZAIRMAX—It is not ambition, but an anxiety to
get an increased dividend; we have bought a great deal of
the land at land price—from 601. to 701. a mile, and some
as low as 401. (Hear.)
After some further discussion, somewhat desultory in its
character, the resolution paused all but unanimously.
A vote of thanks to the chairman terminated the business
of the day.

YORK AND NORTH MIDLAND RAILWAY.

The report of the directors to be submitted to the
half-yearly meeting of the proprietors on Tuesday, the 30th
day of August, is as follo A a

CAPITAL ACCOCNT
The amount of capital raised by this company to the 30th
June, 1863, consists of=
Consolidated stock f 3,211,201 0 2

... .
Preference s►are capital 711,005 0 0
Debenture debt 1.67F1,7,12 0 0

Total capital entitled to dividend and
interest in addition to rent and in-
terest on bonds of the Hull and
&lby Railway £5,601,015 0 2

The sum of 37,7431. 7e. 4d. boa been expended on oapitil

account during the put half- year upon the lines of this
company, and 9811. Us. 111. on those of the Hull and Sell y
•nd the Hull station and branches. Of these sums,
19,100/ Os. 4d. has been paid towards the ironstruction of
the Victoria dock branch, viz.—engineering wedge,
14.2771.65. 7d.; stations and buildings, 3,7171. 9s. 61. : and
land, 1,1061. 13s. 3,1. ; and 7,7501. in full discharge the
plaintitrs costs in the action and reference between Messrs.
Crawshaw and this company. The remaining amount of
Ith/i9_t. 18s. includes 3,1141. 167. 6.1. for compietion of
land purchases, and the balance has been expended on a
new warehouse at Hunrnenby, (I,t at a good rate of in-
terest,) and various buildings, ridings, and other appliances
required for the proper development of traffic.
It has again been found necessary to expend a large sulk
in additions to the rolling stock. Nut only is the whole of
the new stock already provided continually in use, but
further auditions are urgently required. It would almost
seem that the only limit to traffic at the present time, fe
the difficulty of furnishing sufficient working stock ; and
though the outlay is necessarily large, the return afforded
by the increase in the receipts is very satisfactory.
The opening of the Victoria Dock branch in May has
given rise to an increased amount of goods traffic, which
will be still further augmented when the rails and other
conveniences in connection with the docks Are completed,
Many hundreds of mangers travel daily around the towlt
of Hull, on the principle of low and uniform payments,
greatly to the public convenience, and with a remunerative
profit to the company. The new line from Hull to Holder-
nes., which is now in course of formation, will join this
branch ; and, on its opening, a still further development of
traffic will arise, beneficial alike to the branch and to the
main lines of the company.
The bill brought into parliament by this company jointly
with the York, Newcastle and Berwick, and Leeds North.-
, ern Companies, to sanction their amalgamation, was, in
common with all other amalgamation bills, stopped by an
order of the House of Commons, and a new bill will have
to be brougLt in next session.
The final judgment of the Exchequer Chamber, respect.
ing the mandamus issued by the Court of Queen's Bench,
to compel the formation of a line from Market Weighton
to Beverley, was delivered oar the 29th of April, when eight
judges being present, the unanimous decision of the cunt
was that the mandamus should be discharged. All liability,
therefore, in respect of this line, is now at an end, and an
important question of law settled, in which railway com-
panies generally ere deeply interested.
Considerable progreu has been made during the half-
year in the Chancery suits against Mr. Hudson. The whole
of them have now been heard, and in the principal one the
account has been taken, and an order made by the Master
of the Rolls that Mr. Hudson should pay into court, by the
first day of Hilary Term (January 11, 1850 the amount clue
to this company in respect of that suit, which, in the certi-
ficate of the Rolls Court, is fixed at 54,593/. 13s. 1041 On
appeal to the Lords Justices this order was somewhat varied,
it being decided that 20,00e1. should be paid into court at
the time named, and that the order for the payment of the
balance of 34,5901. 13s. 10d. should stand over till Michael-
mas term (November next), when the Muter of the Rolls
will name a day for its payment. In the other two suits
the accounts have not yet been taken, and the amounts
to be recovered cannot be accurately stated ; but
your directors have great satisfaction in reporting to you
that the decrees of the Muter of the Rolla have decided in
the company's favour all the claims made by them in each
of the suits, with the exception of twe items of 901. and 701.,
and a claim of interest amounting to 1,3451. le. 2d.
The attention of your directors has been strongly drawn
to the advantages of a branch, four or five miles long, to
connect the Leeds and Selby Railway with the lines south
and west of Leeds ; and a preliminary survey will at once
be made, with a view to ascertain whether it can be con-
structed at a cost which will justify them in asking your
content to apply to parliament for the requisite powers.
Your directors have given notice of forfe.ture of the fol-
lowing shares, viz., 43 ' extension and branches" 61 " East
and West Riding," and 61 "Hull and Selby purchase
shares," and it remains for the proprietors to confirm such
forfeiture.

The revenue account for the quarter ending June 30.,
presents the following information :
Dit.-To locomotive power, 49,4541. 14s. 3d. ; carriage
and waggon repairs and working, 18,6641. 12s. 2d. ; main-
tenance of way acd works, 21,1091. 3s. BJ. ; stationary en-
gines and selfacting inclines, 4,9271. 75.; shipping expenses,
4,5901. 14s. 71. ; passenger, goods, end mineral expenses,
30,1411. 14s. Id. ; general charges, 7,3271. 12s. Lil. ; the
total working expenses thus being, 136,275/. 18s. 2d. To
which must be added the following items-To way leave.,
4,564/. 7e. ; government duty, 4,144/. lle. 6d. ; rates and
taxes, 6,8781. 7s. ; total, 152,1631. 3s. Bd. Interest account :
On Pensher Branch-170,0001. at 21 per cent., from 4th
April to 30th June, 1,013/. Os. 3d.; on rhirsk and Mahon-
-50,0001. at 2 per cent., from 21st June to 30th June,
241. 13s. 2d. ; on Victoria Braneh-70,000/. at 21 per cent,
from 16th May to 30th June, 2151. 15s. Id.; to balance,
194,3361. 6s. 6d.; total, 347,7521. 18s. W.
Ca.-By Passenger traffic, 110,6121. Os. 50 ; parcels,
horses, carriages, dogs, excursion trips, excess fares, and
conveyance of mails, 133,5054 6e.; goods and mineral
truffle, .211,6341. 4s. 100. ; miscellaneous receipts, 2,6131.
7s. 104.; milking a total of 347,752/. Hs. Etd.