The Express.
London, England, 1849-08-29 00:00:00

MANCHESTER AND SOLIMPORT.

I.l.thr TRABLY MEErnso.---Palatine Hotel, Manchester,
Aueust 23.—Mr. ?Cane H ALL in the chair.
The report stated, "At the last holt-yearly meeting it was
stated that three miles of the railway at Wigan, connecting
the eastern and western portions of the Liverpool and Bury
Railraq, had been cperad for passenger traffic ,• since that
period there has bon a further outlay cf 33.8381. 7s. 4d. in
completing this portion of the line, and connecting it with
the North Union Railway; end in constructing the ha ilge
under the Bast Lancashire Railway, near Ormakirk. The
directors have not commenced any new works on the line.
Under the provisions of the deed constituting the company,
and of the act of parliamet.t, the shareholders are entitled to
dividends in respect of tho rreductive capital, at the rate of
I two per cent, for the first year and ore per cant. for the second
year, lees than the disldeade paid on the Lancashire and
Yorkshire steel:: for the corresponding period'. Your direc-
tor& have entered into an arranctemer.t with the Lane iehire
end Yorkshire Company tur the working by them of the
Mousa3esta and Southport lire until the emilsomation is
cant, leted, eutject to the payment of the dividend thus me-
aning to the ehareholdere. As announced in the directors'
lass report, the arecunt of capital entitled to dividends for
the half year ending the 31st of June last is Cl. per share.
The coact rate of dividend will depend upon the dividend tat
be declared at the half-yrarly meeting of the Lace uhire and
Yorkshire Railway Company on the sth of September
next. The following member., of the board—viz , Messrs.
Henry Hooldsworth, Ocorge \Tilton, and William Marshall,
retire ty rotation, and are recommended for re election.
From the statement of accounts to •he 30th June the amount
realmd on account of calls appeared to he 26.1,4101. Ifts.
'The amount in arrears of cells was 36.0301. Amount ex-
pended en completed line up to 31st December, 1848,
125,0141. Is. ltd. ; to 30th June, 1849. 33,0391. 7e. Si.; total,
1.58,0531.9 x. 4d. The amount expended on that portion of
the line which has not been commenced was, up to December,
1848, 86,3101. 11%. 9d. ; to June, 1319, t4Bl. 194„ 11d. ; total,
67,1891. Ila. 81. Total amount ex-ended on the line, un t
December, 1848, 191,3551. 13.. Sd. ; up to June 30, 1849,
33,p•is1 7s. ; making a total of '225,2131. 11. ; leasing a
Walla ol 59,1761. 14s. to the credit of the company.
A rcoulutien was passed &doting a dividend contingent
upon the amount &clot, a IA the forthcoming meeting of the
Lancashire and Yorkshire Comtiany, and the meeting was
formally nalj mined to the following 'day:

BOLTON, BLACKI377RN, CLITHEROE, AND WEST
YORKSHIRE.

The hole yearly meeting of the shareholders in this railway
was held at 131ack,..urn on bleindey. W. 11. MUNDT, E.SI ,
chairman of the board of directors, in the cher.
The report congratulated the proprietors on the itierense
of 'raffle between Bolton and Waltham. The proposal em-
bodied in the fourth reeolution limed at the last general
meetMg to the effect—that any shareholder who should have
previously paid up 151. per there on the A shares, and
' should be willing to advance 'he remaining 10/. per share,
should be entieled ty retain thereont 201. per cent. of the
amount, to be considered an interest on such advance until
the llOth of June, 18.53, hos been embraced by proprietors
holding more that one fourth of the A stock, thereby placing
at the disposal of the directors about 38,000/. In the
month of June lest the chairman cf the board of directors
addressed a circular letter to the holders of pre-
ference shares, suggesting to them the expediency
of their advancing, by way of loan, a sum
equal to twenty five per tent. on the amount of
their stock. Many proprietoes responded to this proposal ;
but the number replying favourably. and the amount to be
received, were comparatively so smell that the directors did
not think themselves justified in the adoption of this course,
and is was therefore deemed more advisable to obtain money
on loan in the usual way, upon debentures, under the her.
rowing powers in the compaee'e acts, until the present half•
yearly meeting. The revenue account shows that alter de-
ducting 311 the workire expenses paying the interest on
the borrowed money, there is a balance to the credit of re-
venue of 3,0991. lis. 111. up to the 30th of June last. On
eapi,al account there bad been received in calls and on loins.
857,3191. 18s. Bd.; added to which are the somptances and
debts owing by the company, amounting to 78,4631. lie 34. ;
reeking an segregate capitol of 935.7531. 9s. lid. The di.-
bursements amounted to 914,521/. 161.8 d., keying a balance
on capital account of 21,2611. 13s. 3d. The revenue account I
sht.wed that the receipts for the ha'f year on that portion of
the line opened (13 miles) amounted to 10,27°!, 19s. 83.;
and the disbursements to 5,6531. 10s. 61. ; leaving a balance
of 4.6251.9 a. 2d.
The CHAIRMAN having moved the adoption of the re-
port, considerable discussion arose.
After which the report was adopted, and the retiring di-
: rectors end auditors were re-appointed.
After some further routine linemen, a vote of thanks wee
paset.el to the directors, and the chairman having a-know
;edged ft, the meeting broke up after a sitting of three
f hours.

SHREWSBURY AND CHESTER.
yesterday the half yearly general meeting of the share-
holders in the Shrewsbury and Chester Railway Company
was held at Chester ; Waitorar., Esq., in the chair.
The SECRETARY read the report; from which it ap-
peared that the directors, is melting the shareholders at the
end of the first six months after the opening of the lute
throughout, although unable to show a satisfactory result of
the working of the line, had, nevertheless, the satisfaction of
12yir7 before the shareholders a balance-sheet, from which
it wonld be seen that, alter charging against revs nue
account in addition to the full working 01De1:13425, &c., there
remained a balance to the credit of the company fUftl-
tient to pay a dividend at the rate of 21 per cent.,
on the whole called up capital of the company, including a
bonus of 90,0001. on the North Wales Mineral shares, leaving
a surplus of 3,013/. 5s 2d. to be e-sried to the next ace Amis.
The grass working expenses et the line for the six months
were heavy, amounting to 20,715/. 16s. 7d. They included*
however, the whole expenses of the flibrewebury genera
station, the company's proportion of the Chester general
station, the tsll payable to the Chester and Holyhead Com-
pany of 70 per cent. on the portion of that company's line
between Saltney and Chester station, rates, taxes, &c. The
fixed charges aenst the employ were alto heavy, but after
these items were met, a alight change in revenue, either

from reduction of expenditure o: increase of traffic, would
tell to a remarkable extent upon the amount of dividend
payable to the ordinary shareholder. On the present share
capital drawing dividend amounting to 739,8501, an increase
of 1431. per week, after the fixed charges end working
expenses were met, would add 1 per cent. to the die:demi.
The engineer reported that the ma'n lice cf railway from
Shrewsbury to Chester had been completed at a double
line since the month of May last ; that it was not nem-
smy at present to make a double line from Gobewen to
Oswestry, which was now only worked as a tingle ;Me, and
that the whole of the Cation works were completed. The
consent of the Admiralty had been given for additionel
works at Saltney, which would give three times the present
accommodation, end greatly diminish the coat of working
the wharf and station. Tho line of railway was in excellent
order throughout, and entrely free from any danger in the
slipping of the embankments or cuttings.
The capital account of the company thews that shares have
been created to the extent including leans, &e.) of
1,191,6761, of which 1,161,8401. been expended, leaving
a balance of 29,8361. From the revenue -meant for the
;ball-year ;adlag the 30:h Of Ante, it appears that ed
had Leen received, and 27,3351. expended, leaving a balance
of 18,6051. applicable ter dividends, &e.
The report was unanimously agreed to.
The CIIAIIIMAN then proposed that a dividend due on
the preference shares of 7s. 3d. per share, lees property tax,
being at the rate of 8 per cent. for the period from the 16th
January to the 30th June, and a dividend on the other sharu
at the rate of 21 per cent., without abatement of property
tax, be declared, and that the same he Lipid on the 14th Sep-
timber next.
The resolution wen carried.
The CHAIRMAN then moved that the directors be
authorised to borrow additional sums, on mortgage, to the
extent of 24,4631., which was agreed to. The retiring
directors were then re-elected ; and, after a vote of thanks
to the chairman, the meeting separated.