The Express.
London, England, 1849-03-08 00:00:00

RAILWAY MEETINGS.

LANCASHIRB AND YORISHIRI.
General:Malf-yearA and Special lieseisfs.-2flanekata,
Marsh 7.—MINI: HOIILDGWORTH, gp t in the chair..
Mr. DUNSTAN read the report, which data, ehgert
other things, that
"The net revenue epplicobie to dividend sad interest is
by No, 3 etwennt, 1&2416/. 108.6 d.
'The productiveceyital chargeable ea revenue tae the half
year is se follows, viz. •.
Milady there capital £4,650.706
811 per tea pretenses eharie—eateazt laid
an the avenge d the siz maths IMMO
Dna empitel—averege vet., 41. es. per east ....--' 181,390

g 1,710.014
" It fellows that the disposable mount of 162,66 m. Ns. dd.
will provide for the above preform,* shares sod irons, and
for a Malead on the md.y share capital mthe rote of 6
{=solas per
an
um, subject to income sax, and will loam •
AMU Ile. Id. to be serried forward. In this
Mobbed the paid-up capital of the 321. shares will wZ
pas to the emote of 71. per sham, end the West
shams to the mum of 31. per share.
" The levourale chimp in monetary affairs has enabled
them hilludy to swore such sums as they required at a ro-
used Me fatalist ; also that the late ogle have been more
prom mot than daring the last two years. This change
lbw ftoagme snpusodo tha asesuity of any further isms of
th!livcismat. poismace Meek
the hat bolf-year tie fine between Liverpool and
Bury hes bon armed throughout, though not until the
90th November lea, sad the. only for m
Port of ike____drinZasio attributable to the don
of about sm. of the Manchester and Sou=
HIM at Wiwi lat a map part of the
,goo by lAisb, however, a superior ccussicion with
Wpm end • eaviaLciedlE ham been effected. The
semeareat dam
willa Om adroitly:sof which
og
ebegagg= eleimParorriivergratici
toea the last halfiosrlf report,
Mang them i relate ordimount off the next atM, when
equal to Mod/ Mead they would have limn entitled
Lig ortilit o =lomat of etpilol in Natal, opera, had the
UM bola Wald op Ml lat J lj lest. At the tams that it
b propm4 with d via lo the alter identification of the
umepool ond Bury, sod the lasetm and lersde
mem% that the Maim:Sim of I par esm. per. manna lest
dividonds=tio the toques until ths 106 Inas, ISM,
h• a bo an sphivaort ocammila al Sakai by
tho Lalpla aad dsre in the half-you
306 IMO Mixt, se that frail thi =
Ist
aci July this year
LiaoDJ las diyideusis pi poses ,The
sad MI. shams. Beetintions
fist_
e2=141 Mipmposa *the special
oranzkimpottwat d
abowea heltylemo pa, tatty siiiiimA ly *-
peeled born the mesa a iikft ease a liair in
mostraira with *Rad. Ailie *ream Oast proptakhos
any ram to anticipate a hither redrelica al dividend= at
tel it th• ammit• Milliflor, leotard ths
Millinigt,Wl4 4ed

this d.y suctioned; but, on the contrary, they expect to
pr eerie the present surplus intact for the December helf-
year, whin dividends wad brooms payable on a capital of
about eight million., requiring a gross income of about
365,0001., /raw lye of the leased it to sustain the pre-
sent dividend. To earn this amount, the comps*, 's lines
now in operation, either wholly or partially, will, in the
course of the year be lunar d to 155 miles ; and it may be
added, that if the income of the Manchester and Leeds and
Bolton lines, 744 miles in length, alone increase, through the
influence of improved trade in the same proportion as between
1843 and 1844, there will be sufficient to continue the pre-
sent rate of dividend, and to !educe the expectatiom that the
loweetpedat has been touched, the directors having every
reason to anticipate that the increase on the new lines will
more then cover any lass of receipts arising from the opening
of the Huddersfield and Manchester line.
" The importance of an early consolidation of paid-up
capital has long been generally acknowledged, and your
directors regret that they have been prevented, by the ex-
treme depreciation in the value of the charm, from availing
themeless of the powers /ranted by parliament in the last
series to effect that object. With a view, however, to •
commencement, they propose to take powers gram this meet-
ing to the mum:situ Into stock of **Lancashire and York-
shire Sixteenths, and the Wakefield, Pontefract, and
Goole, 501. and M. shame, all of which are
paid up in fall. They have no power at present
to emeolidate any ether elms of shares except to an
extant regulated by the amount called up, which
would leave fractional shares to be created, and increase the
variety of shares, already too numerous, into which the capi-
tal of the company is sub-divided. In order, however, to
hortenaidaterrithe od when the older class of shares may be
are being applied for in this session, to
authorise thiroMrs to receive on such classes of shares as
may be sanctioned by the proprietors, payments in full at
the option of the holders, in anticipation of call*, and to
convert such shares Immediately into stock when so paid up,
though without waiting for these powers the object might
be attained by &Hag op the full amount of the original
1001., 601., and 261. *arts, and Liverpool and Bury shares.
This latter step, which your direct= recommend to be taken
immediately, would ensue the couolidation of more than
4,000.0001. of additional capital."
After several speeches, the report and amounts were
to.
ABEIALOM WATRIN proposed a motion restraining
the directors from issuing the preference stock at present fa
hand, until authorised so to do by the shareholders.
Mr. D. PRICE seconded the motion, and it was agreed
to.
The CHAIRMAN next proposed a diseased of 21.65. 4d.
en the Bolton 1001. shares, of 21. 3s. ea the Leeds 1001.
thaws, of 11 ls. 6d. on the Leeds 501. stook. of Bs. 9d. on the
ditto 251. stock, of 3s. lad. on the 61.55. stook, of U. 6d. on
the 201. steckihore of Us. 6d. on the 321. extender' Amer, of lc 64.
on the West shares, . ss. on the Wakefield. Ponte-
fract, and Goole . stock, and of 12s. W. ea the 251. ditto.
Mr. GILL seconded the modes, and it was sanded.
The meeting_ next proceeded to the re-elestion of retiring
dirootore, and Mr. Watkin *Need to the re-eleetion of the
same parties always ; privatise es a substitute for one of
them Mr. David Priert.—rhe amendment, however, wee lost,
and the old directors re-appointed.
Resolutions were then moved by the chairman, empower-
the directors to ths rrowing of the Man-
cinghester and Bolton Act, sadbo the Wert Ridingpowers Act, which
wee* to the amount a 900,0001. Carrled.—He also moved
that the animas seal of the company be affixed to • petition
to parliament. praying bra more equitable system of rating
railway property, end this motion was also agreed to with-
out discussion.

The sawing next reseeded to the election of auditors,
and on the !laden of Kr. FAOLINIII, Kr. Dunlop, of
Edinbarat; and Kr. Midmost of Kirkby Lethal*, were
a
printea.
The bemire at the 'phial meeting had not been pro-
ceeded to when oar reporter left. at fire o'clock last inning.

THAW= RAVIN Dom AND RAILWAY. - London,
March 7.—The meeting appointed for this day was adjourned
in consequence of there not being a sufficient number of pro-
prietors In attendance. It appeared that the works were still
suspended, the directors having only laid out a sum of 1,400/.
ebece the hut meeting, this amount having been expended
in the purchase of seine additional lands. There was a
Winos of about 6,2001. in the hands of the bankers.