The Express.
London, England, 1849-08-27 00:00:00

des Tassel. sod to raise as 'damsel sus et mosey, and
fee other purpose,' or soak part or parts thereof se the
lilt ems of this aserspany for the time being shall thick
E.; and at such time le times as they shall diem same-
Mr. AIRYNELL remarked that the adoption of the enures
meemmended is the vesdrition would be an advantage
from
to
the arsheidere, ismamish am it would an
them
the paymest of the alb, while they would still receive the
11.11 amosat lamest ea shams, only dedactiog U. per cent.
the the mimed of fells repaid.
I heCHAIRMAN else mated that them would be a fur-
ther emirs of 10s. par mat. to the proprietors, inasmuch as
the; -meld Donor at 41 per matt while for the interest
on In, amuse of anpasd-up calls they had topay 51.
per lest.
U... resolution) was this put and carried. It was then
=as moiety resolved that Mr. Hopkins and Mr. Dolphin
has retired from the direction, the number of directors be
todemd to 12, whisk oceeladed the business.
MIDDLESBOROUGH AND REDCAR.
be haltysarly general miming
srJ of the Ididdl.shorough
it..dear Compsay was held at Darlingtoo on Frith, ;
T. llaesrlst. Esq., in the chair. The proceedings were
gese-elly al a routine description, and the usual dividend of
• per mat. wee declared. It was also resolved that, in the
plac, of Mr. Joseph Pews, who had resigned, Mr. Ahrsl
t .king should be sleeked a director; and that Mesas. B.
Pc.: sail J. Wilson should be elected auditors of the ant
pin is the plass of Mr. Hitching, r.signed. The setting
then separated.

b.CBLIN, HUMDRUM, AND RATHFARNHAM.
F:.day an extraordinary meeting of this company was
beg at their office, Dame-street, for the peep se of reducing
the number of directors. The chair was taken by Dr. FUL•
TON. chairman of the company. Tae following resolution
era- e- en proposed
tee number of directors be reduced from the pees nt
au, ter of eighteen to t oche, and that the board do from
ea,- consist of Lyles directors
HARLEY proposed an amendment to the effect that
th e number 011ie directors be radar:ad to twelve, stating the
am a of the (antrum who should retire ; namely, Aide r-
ine. Lake Butler, Mr. Boyce, sob., Me. Boyce, jun , Sir Jas.
D.lll6.l7fAi'l, Mr. John Kernedy, and Mr. Varlet.
A atteq of ceramics then wallowed, and several persons,
areeetained mot to be ileareheWers, were slatted from the
gems. • poll was demanded, and several of tke votes ten-
du n were on a sevatiay rejected, sad a new uproar was sit
up A resit was made to the table to remove the cha
which
irman,
James Dosthrain wee thrown into the chair, to
he wee duly voted.
. FULTON declared that the amendment had been
prri.d—tie numbers being: for the amendment, 217;
against it, 210—sad that the meeting was diesolveJ.
fiI'DOWALL mid that, even admitting the ehakataa
In a Pe taken the peeper ineurse, the question shenld be de-
ed.: I the rather way if lie. Valsee's vo to were accepted. But
S•undersee, the sesessor, althe.ugh pressei by him, had
rt',A d to rake them.
.r J. DOMBRAIH—Even so the amendment is lost,
as 11.76 sueffiers ere, for the amendment. 217 (widen includes
pros es) ; against it, 2.58, independeat of premise, ours having
ken all rj• teed. (Cheen )
i.eY Ordowre Half- rare Meetilay of the company, Ut
teceivizg the din more' report, and dieehArioir the usual
be-leper, was held, Sir J. DOMNRAIN, Bart., in the chair.
^comma seal of the company having bean affixed to
• egeory of proprietor,CHAlßMAN read the report, wtish stated:
that La aniteqaence of repeated refusals of the hosed to
ii' any Information to the proprietary, or to Wendt a
t• • ?automat of the affairs of the company to the share-
!, rs, the latter were determined by Wormier( the
r • ter of directors to place a sufficient number of gentle-
a ' • at the board in whom the compeny would have *rah' I
• a. r e. The directors have now to repeat that their first act
le•. to tr.s. a resolution to stop any further expenditure that
Goal t be avoided, and to stay all negotiations fur the par.
eb • • elf taking of land. The directors ales deemed it their
eu,e to set upon the resolution adoited at the re.eetirp,
end disp_rese with the services of Mr. Algernon
l're,,aa, the secretary. They then called upon the
L board, laffividually, to plate bias them any
it. -Nation, or give any explanation in their poser ia jes-
t+ ..rhm of their contact in persevering with this under-
ng timeliest the feeling+ and wises of so large a majoril
ei •ue propriety?. The remoras assigned were so anemia-
I my that the board came to the following r: solution, vie. :
• a Let the explanation given by the chairman and directors
of use old board to juati.y them in forcing on the making of
II • al. e has totally failed to satisfy the pea sent board of dl-
r.. •:•10.' The following facts your directors bring before
7 • .. motion to show the real position of the company:—The
aonehor of shares on which the call of 31. 15s. was paid,
•••••. legal pros:saw, was 437, oat of a total of 8,000,
e. ich 335 were the property of the late baud and their
Imo e4iate relatives; since the inatitution of the law pro.
-• tongs 1,498 shares have paid, and your directors think
that 650 mere may he expected to pay, thus making the
a.: eat number of solvent shsreholders about 2,1100. Ur nn
number the call of 21. 10s. (which must be paid in order
p. ; :ester the shares) would give 6,2501. ; and governing the
.aa unpaid amount of lee 153. to be r. caved, it would
pa . ► ea; .tad of 46,8761. The alleged agreements for lard,
. n appear to have been watered into by the late board,
an. tot to 41,120. 12s. 61.; to this amount mast be
ass. •t d at host 10,0.101. for heels property, from Harcourt-road
to t...;tro.u.'s green, making the total mat of the land for the
v.l' • a: upwards of 55 0001, exceeding the extreme amoost
• • ..e mplal that would be raised by nearly 10,0001, and
lemonstrating the utter impossibility ot making the line.
directors also report that they find but live col:treats for
Ice. . t a l been entered into by the late booed before receiving
U.. notice for calling the epeeist. 'metals of June 28th,
•.:•. a. ith Mrs. Matthews, Messrs. Booth, Reid, Hodges, and
.e• ; the two latter having been directors of the company
U. • a the coatracts with them were entered into, since the
. Nay (the date ul that notice)• which so clearly show. d
t wishes and intentions of the thascholders to wind up the
a .- of the I:emptily, the late board seemed determined to
1•... ore them in every possible liability and expense, having
i Interval between it aid the 28th June (the thy of the
n. • .np f entered into agreements for land to an amount es-
t • . ins 3.1,0001., and as appears by a return from Messes.
o.gton, they on the very last day (27th gune), signed
I • and contracts to a very large amount. In the ca let
.val it !deo appears that the late board transferred all
t snares sty held beyond the numbs, sufficient to
e; at, them se directors. The cash of the company
a a • ors to have been in the bands of the Messrs. liar.
• ra, with the exception of 3901. 3.. ld. in
L • and from their account it appears they ewe the
F •sey • balance of 3,1501. 14s. 9d., subject to the
; ..o•ats made by them, and to their cost', an account of
• owe have Oct yet been cnalrlid to obtain from them.
Y.,. directors head hoped to h_ve submitted a mere detailed
•• • to at of the liabilities and future prospects of the com•
e a to this recetiog, but they have not found any sufficient
a• • elotion in the books and Papers left by their predeerg.
•.• • enable them to do 63. The following directors retire
- anati.m *ad on eligible for re-election : Alderman Luke
: n, !Celan= Jobs Keshan, Joseph Boyce, jun., and
A . nosy Chum destroy. One of the auditors, Mr. Richard
lt r, oleo retires. In the observations the present board
t - made upon the induct and proetediugs of the late
.. I, they beg especially to exempt Aldermer. Kesean and
is r, who have shown every disposithn to aid the present
I. • ..
• CHAIRMAN said it would appear from the above
e". at that the directors had not yet been able to eseertain
.• a abilities of the company. They dad taken a great deal
a e-dos to go into the account, and had dare everything in
power to ascertain what those debilities were ; but it
*.. .nly that morning they •rtained that the company
•
. ebb for the amount of 9,8241. for land, of which they
wooly knew nothing. He begged to propose the
• ten of the report, which was
PEEBLES then moved that Alderman Knits's,
A Unlit Ballet, Mr. Joseph Boyce, jun., and Mr. A.
.. fray, the directors who retired by rotation, should be
et • . eget
ere don was carried.
• 1.. FLYNN—I abject to it, as the meeting is illegal.
fn. CHAIRIAI4 stated that on the day of the last
me,t ea, after it had concluded, Alderman Butler met a
aau who was carrying away a toz from those rooms. The
os • as takes out of his possession and brought back there.
: i one Preston then pledged his word of honour that
. contained wahine but private property, but upon
we a; it the contents were found to consist of deeds,
r a et, and payers belonging to the company. (Hear.)
liVANCE then moved that Mr. Robert Collo be
• - at as auditor of the aemunts of the company.
• as resolution was carried.
••. M•11110.NIE then pr arse d that the meeting, having
•• eased the viaduct o Dr. Futon, and the decisions pro-
p abe made by hif
m, condemned his conduct as con-
* • eo his dial and to common sense.
•• resolution was para.
the close of Use proceedings. Alderman Butler was
c na the chair, and a voted thanks was paned to Sir
J . . • Dombrain.
• FLYNN handed in a protest spinet the proceedings
Volum, wield he regarded as the legal ctiairman of
s thsany.
meeting then separated.

EASTERN COUNTIES.
, • n report of the directors to be submitted to the @bere-
t., at the half-yearly meeting, on Friday nest, states
it.: • noeibtr of directors will be reduced to 12 prior to
..1...t:54; and that the principles upon which any future
t..• . • mend.stions from them will b.: founded may be stated
e. •
I. To el es the capital account, and thus terminate the
; r.....p5: cause of the nedetiocd condition of the company's
.11.. s; na that it is pletended the capital account will
r ..1 usalbred, for sur, les land will have to be sold, and
s „. si.sy from tine to time be necessary. All debi.e and
in these respects will, however, appear distinctly and
...o.rotly is each half-yearly statement, a be euily corn.
yr...heeded; and when the capital account Is thus closed, its
...übout shall not be snaterislly augmented without the con-
s... ..f the proprietors.
•ls To ascertain the value of the fired and rolling stock,
•.ery ..siseiption of proticlity which may be rea'izable.
*.ilaetton will be etaenti.il to enable the proprietors to
in opinion as to the amount of future net profits to be
,•.,d.l.
3. To being the working expenses into such a system of
ow., int, that an increase ie any department may be dice.
tus.ly si.d instantly cheeket. Such a system must be intro-
ducal be ore any great change can be effected to the
f,,,,assement of tin COUt7III.
4 To arrange the ace. outs so that the ret profits, the
.nd liabilities may each hallyear be clearly shown,
sad ea-ily understood.
6. Not to divide anything. bat clear net pram, after
keeping up effectually the rollug stock, end Mein aside

sufficient to provide for deterioration of permanent way
works, end eta ion.
"It is believed these principles will be found applicable to
all questions which may seise truednmet to the propert
corry.ectly
The accounts may be res as fairly ar.d
, represtosting the revenue and current expenses of the past
halt-year; and the directors feel justified la TINN =mending a
dividend of 21. per share of 201. of the capital stock of the
Rumen Counties sad Norfolk companies. Au ample sum
has bees set apart fee the hall year, sad charged against
reunite, ea reoemmooded by the late eommittse of =oath
galls, for the renewal of permanent way and work,.
"The capital seam= is still in the bands of Kettle. Quit-
ter, Ball, and Cc., who have promised to give it their conti-
nued and dose attention. Before the next halfilearly meeting
a full ratement of the again of the company shall be sub-
mitted to the proprietors. With an income so gnat as that
now derived from the undertaking, there will always be a
dividend payable, but its amount mut depend upon ..12^
expenditure attendant upon musics it. The correction and
diminution of this expenditure is, the =radon feel, the vital
matter of management.
"After the agreement for amalgamation with the Norfolk
Railway Company had been adopted by a majority of votes,
representing so large a portion of the capital of this corn-
poly, the directors could have wished that it had been en
their power to reyort the confirmation of the agreement by
pa:Jaunt.
Daring the temporary want of the parliamentary autho-
rity to make the am tigametion complete, the directors have
not hesitated, under the advice of eminent counsel at the
Chauciry bar, to carry out practicaily the wishes of the
sharebulden, so plainly expreeeed in savour of the confirma-
tion of the agresm-rat, and to remove all itlegality horn the
prectedinge of both companies, while the terms et their
bargain should remain unchanged ; and the directors feel
amend that parliament will eventually senction the
union, and will approve the proceedings of the company in
the meantime, which secure to the public the benefit of the
amalgamation."
The directors, in referring to the opposition which the
Amalgamation Bill encountered in the louse of Lords from
the East Anglian aid Newmarket companie a, mete that theft
companies have themselves sought emalgamatiun with the
E Intim Counties' and it MU therefore an inconsistent and
ill a .vised course for them to oppose the smaleamation. An
amicable arrangement has been catered into with the
London and North Western Company, in respect to traffic,
and alao with the Oreat Northern Company, and that diffe-
rences which have long existed in the Eastern Uuion Com-
pany have been brought to a close. That the board will
continue to ezerche the utmost vigilance and care, and al-
though aware that smoker to a considerable amount will
have to be raised to discharge the liabilittes on capital ac-
count,they will apply the taste veer to the it various dudes, con-
fident that the intrinsic value of the property will enable
them to overcome all difficulties.
The report of Mr. Samuel, the resident engineer, states,
that the permanent way and works throughout are in a
satin ctory state. The total length of lice included in the
maintenance of way eccinnt is, for the Eastern Counties
lines, 2151 miles; Norfidk iteles, 801 miles; total, 296 halm.
la addition there are 26 miles of branch lines, maintained
by the contractors, making the total length opened 3221
=dm Tee coat of maistenacce, including =bate and
ma erisl., bas been at the rats of 471. per mile for the
bilfiyear, or 91/. per mile per annum.
Toe report of Mmes. Quitter, Ball, Jay, and Croebie
states, that the accounts are made out by them in the form
u-ually adopted by the canyon', and comprising within it
only those earnings and expense! which are proper to the
hall-year, subject only to any question uto the propriety of
the sum charged as a reserve (10.0001) (beyond the
amount paid for maintenance and repair.) to
cover renewals of permanent way and work.. No charge In
coxeidered necessary to provide far renewal of rolling stock,
th: actual payments deducted to revenue for repose and
POW stock being deemed adequate to cover the deterioration.
Toe net earnings of the helf•year are stated to be 173,1.1a01.,
deducting ham= chars-aisle to revenue 148,4981., leaves a
net result of 25,4821.; surplus remaining from hat nesount,
3,681/1.; balance rem-tieing at the credit of revenue for halt-
year etteliogJ.nuary 4,1849, after charging it with the sum
of
97,3641., in pursuance of the recommendati in of tne com-
mittee of inveetiration, 6,3242 • total, 35,3931. They draw
attention to the sum of 1344;271. standing at the debit of
=eat end loot aceonnt ; it consists of various amounts, hay-
ing r dation to revenue accounts antecedent to the 4th of
January, 1649. The amount expended on capital account
during the half-year amounts to 186,0931 Ihe revenue
statement for the belt year shows that 3b2,3341. was received
and 208,3511. expended, leaving a balance of 173,9901., oat of
web_ . 118,4981 in taken for intereston loans and guaranteed
necks, leaving 29,4821. above stated.