The Express.
London, England, 1853-02-11 00:00:00

THE LONDON' AND NORTH WESTERN AND
UREAT WESTERN DIFFERENCES.

MEETING AT LIVERPOOL.
Yesterday, at one el'eltick, a meeting of shore-
holder: in the above companies took place in the Cotton
Sales R tom, Liverpool, to receive the report of the com-
mittee of shareholders in the London and North %%cern
and Great Western Ilsilway Companies, appointed at a
public meeting held fu Liverpool, on the Bth of Gitober last,
with a view to bring about an adjustment of the differences
which have so long ez:stcd between the two companies.
Mr. Itathh.ine was called to the chair, 04 taking which
he requested Mr. Delloc, the secretary, to read the repast,
of which the following is a copy, and also a copy of the pro-
ceedings and correspondence of the committee of mtge.
ciation :

" Your committ ref. rto the annexed statement of their
proceedings and COpiei of their correspondence with the
boards of the two companies. Front a careful perusal of
these documents it will be seen that some progress had !wen
made in the attainment of your object, when the appoint-
ment of a select committee of the II mse t f Cu:unions to
consider the whole question of railway legislation, induced
the Great Westan Company to bleak oft the uegotietion,
aril ast -tit the result of that important meaeure. Ymar
conni,tee then, as their last resource, deemed it their duty
to apply to the Board of Yretle, and urge upuu the go-
vernment the importance of the of jest for which your
committee was formed, pointing out, at the same time
the aantages to be derived from an early report of the
advantages
select committee above related to, which might mitigate or
suspend a ruinous end perhaps iudeeisive paril tmentery
struggle. It is with much satirfectiou that your
committee are enabled to report that the govern-
' mmit not only eympathito with the n'elecholdere, but are
fully impriewel with the magnitulle of the subject, and pre-
pared, throtelh the medium of the select committee, to
institute proper inquiry and receive every suggestion 11 hick
is likely to lead them to a correct c tnclusitm, while they
fresh stated that they considered the ti 11.2 inter: stn of the
public and the shareholders were identical and could not be
separated. On the select committee alone you have there-
fore at present to rely, and you cannot over-rate the im-
portance of furnishing that body with such evidence us will
lead to a just and decisive settlement of all your dildeulties;
the mode of accomplishing this requires your immediate
attention, and should be the work of a new and strong com-
mittee. Your committee cannot help remaking upon the
hardship of being driven to parliament to 'eels, en expen-
s:ve terms, for the derision of a question which ought to
have been rest ed by your directors, and they regret to *tato
how painfully evident it has b.:come that without au organic
change in the system of railway management, there is no
escape from the labyrinth in which thra have involved
you.
From the proceedings and correspondence of the com-
mittee of negotiation we take the following extracts:
"The committee appointed at the public meeting of
shorehv'ders in the London and North West. rn and Great
Western Railway Companies, held in Liverpool on the Bth
of October, 18:.:12, lost no time in placing teenuelves in com-
municatiou with the boards of the two cotopanies.
"On Vie Blot /Dewitt r, the Committee Lad an inter-
view with the Beard of the Great Western Railway, and
after a very ample discussion of the preheat position of the
tea Companies, the Committee left the Beard without
having succeeded in obtaining any proposition beyond a
general declaration of the chairman that the Great 'Western
earnestly desired come agreement with the Landon sari
North Western Board, on the basis they had formerly
prom) ed, or on any other basis that miallt be just and rev-
s noble, and flee from all the difficulties and embarrass-
ments with w:lielt they feel convinced the project of amal-
gamation was surrounded.
_ _

" On the tlnd of November the Co:nmittee had a very
tong interview with the Board of the London nod North
Wooten, Company, which resumed in the lullowing resolu-
tion being adopted by the Board
That in order to effect a complete and permanent
settlement between the London and North-W, stern and
Great Western Companies, the Directors are wilieg to
recommend their proprietors to leave the entire questions in
difference to referees of high standing, stipulating only,thet
all engegements with third parties effected by the refersece
shall be fully and honourably corried out, and that between
all points w iere the companies may ha in competition, the
principle of the same rates be adopted and rendered bind-
ing on both parties.'
" The above resolution was submit d by the committee
to the board of the Great Western 121)4,111 tny, who at the
tame time were most strongly urged by the committee to
receive it in a conciliatory spirit, cad atter another pro-
tracted interview the beard of the Great Western Company
paned the following resolution :
" Toot the Great Western board still adhere to the opi-
nion that any attempt at amalgamation between the two
companies would be injurious and unwise, and meet be un-
successful ; but thst, in order to effect a complete and per-
manent settlement by a system of moderate and equal rates
of charge between all points where the companies may be
in competition, to be settled between them, and equally
charged by both companies (subject to arbitration, in ease of
difference), affording to the public a fair opportunity of
using uninterruptedly citcer system of railway, according
to their convenience, the directors of the Great Western
Company are willing to leave the entire questions in differ-
ence between the two companies to referees of high stand-
ing, stipulating, as a boris, that the agreements of the
Great Weateru Company with the two Snrewstrary compa-
nies, including the engegement with the Birkenhead Cam.
pony, and other parties or shall be admitted or passed
through parliament unopposed (directly or indirectly) by
the London and North Weetern Company, the Great
Western Company undertaking not to carry the broad
gauge beyond Birkenhead'
"This resolution was immediately transmitted to the
secretory of the London and North Western Company, and
a letter watt received from that gentleman declining to ac-
cept the basis proposed by the Great Western Company,
but at the same time containing an offer to leave the entire
' question aid difference to be investigated And settled, eithec
by a public hoard or referee.% of high standing.
" On the 30th of November this communication was for-
warded to the Secretary of the Great Western Company,
with the following letter:

' Liverpool, Nov. 0, 1812.
' To the Chairman and Directors of tne Urea: %%reused
Railway,
" ' Gentlemen,—The enclosi d letth from Mr. Stewart
contains the answer of the London and North Western
Board to your proposal of the 2nd inst. We hops you
will Ice iu this document the evidence of a concilia-
tory spirit, and a strong desire to bring all diffe-
rences to an immediate termination. The greatest question
that ever came before a mercantile body is now in your
hands. Arbitration is offered in a form which we trust
will be acceptable to you, and the only alternative is a de-
structive parliamentary struggle. We have numerous let-
ters from all sides insisting upon a cessation of the extrava-
gant waste of property in this unhappy rivalry, and we
conjure you by the magnitude of the interest at stake not
to allow this favourable opportunity to escape without
earnestly reviewing the whole subject under its new oir-
caasstane,s, nor to deny yourselves the satisfaction of
closing this revolting contest, and restoring these vast eon-
cern' to their former rank amongst railways. It is by
peace alone this can be accomplished, and we eagfrly wait
such a decision as will afford us the happiness of n porting
that the directors of both companies have, hy their consign-
ing past feuds to oblivion, merited the confidence, the re-
spect, and the gratitude of the shareholders.'"

And on 017: 10th of Dectiuber, tho follow lag reply was
received

"' Great Western Railway, London Terminus,
Paddington, Dec., 9 lEir2.
" Sir,—The directors of this committee desire me to as-
quaint the Liverpool committee of shareholders that they
must refrain from quoting paragraphs from document., or
enteriag upon controverted questions as to the effect or
means of railway campetition, whether it be compatible
with equal charges or not, to which points they are invited
by the perusal of Mr. Stewart's letter to you oa the 171 k
Mat., as they do not think a correspondence carried on in
that spirit can be calculated to promote peace between the
two companies, which was the sole avowed object of the in-
tervention of your committee. The board coeliac% itself,
therefor. upon this occasion, to the mere expreasion of a
strict adherence to their former resolution, communicated to
the Liverpool deputation of shareholders ; remarking, in ad-
dition, that the subsequent appointment of a select com-
mittee in the House of C =mons to consider the questions
of amalgamation and railway legislation must obviously
preclude any useful reference to third parties, however dis-
tinguished in ability or in station, pending that investiga-
tion, and that many of the apprehended evils from disputes
between conflicting interests in railway companies may be
much mitigated, if nut removed, by the decisions of that
select committee.—l remain, sir, your faithful servant,
CHAS. SAX:ND/HO, Secretary.—ll. C. Belee, Esq.,
• Shelly after the receipt of th's letter the committee
determined M seek an interview with the Board of Trade,
and accordingly a deputation had the honour of an inter-
view with the Right lion. E. Cardwell and Lard Stanley of
Milerley, on Wednesday, the '26th of January. The de ett-
tation were assured that the government considered the
sunject of railway legislation as of imperial magnitude, the
importance of which could not be over rated. They were
further given to understand that the labours of the Select
Committee of the Roue of Commons, appointed by the
late and strengthened by the present government, would be
devoted to the earnest consideration of this momentous
question, a satisfactory solution of which would be most
gratifying to the government and that profiting by the ca-
pericnio the past, it was thought a course might be ale-
viaed which would, for tho future, put an end to the ruin-
ous contests between railway companies, having regard .s
' the interests of the shareholders and the public, which were
M fact identical.—Liverpool, Yeti. 7, 18j1."
The report having been read, the CHAIRMAN said he
hoped the shareholders woul I carefully read the proceed-
ings, any see that the committee had acted as instructed
tvith perfect fairness. lle then gave a sketch of the pro-
ceedings of the committee, and mused the adoption of the
report.
Mr. hut. seconded tle motion.

In refe:ence to a remark of the chairman that the dime-
tors had spent 70,0001. iu litigation, Mr. Remote, auditor
of the London and North WLstern Company, Ftated that be
bad ICI,OU to know t'tat the Mtn wall nut lets 0138100,0 M.
Ile ur44.1 the bhareholdert t,t call on the ditectora to state
sant th .7 rtaily were *,.:tiding, and to attend the (timing
me, ting-,and there inst:t on the directors inserting sash
. ears .tees lb, ir half-yearly re&rts.
Mr. HALL a-kel Mr. ltowas.tt if he umahltLll the :se, ling
whether the London awl North Western Centrally added
these expenses to capital.
Mr. ROWSON said that although that was not perhaps the
, proper place to answer such a question, yet he would not
shrink front a reply. no Loudon and North