The Express.
London, England, 1849-02-16 00:00:00

mecount, 13,580,9381. The aniseed atiiended to the 30tn
of Juts last was 13,268,1183,414- siesiejaath4 -Tar
ending the 3lst December, 158,8371.
for parliamentery mews, seslAri.l "
seeoent fisheyes held by tite4Em albs rallWfxra.
ma
szpseditate 1 and Lavin a balance
tae ""forty of 461, Tbs means assunt for
Ze"halt year smilax the SIM Deember shows that
308,4931. had been received fir the esaveyanos of passen-
gers • 10,1241. for horses, sardines and dogs ; 22,4021. for
parcels 6,6741. for settle ,• 12,7424 fn. mails; goods,
161,9061. ; minerals, 85,8011. ; total traffic receipt. on the
railway, 613,1431. • Alibi canal, 3,6021.; rents, 3,0161. ; in.
tenet, 6,6324 ; triads fees, 3671., nuking the total revenue
for the half year, ineledieg 1,5611., the balance fromthe
last account, 628,4601. The expenses were, for mabitenimes
of way and works, 26,9021. • locomotive power, 81,7621.;
coach and weetten repairs, 10,9231. ; coaching, aersount, sale,-
ries, as., 29,8601. ; goods department, salaries, Re., 32.0121.;
other expenses, rents, &e., 30,0271. • total woekiag expenses,
211,1791.; rates and taxes, 16,388 e. ; deity for en!
12,4781 • debenture interest, 50,1921. ; half-year's dividend
on the 81lieffield and Rotherham 6 per cent. stook, 4,6001.;
ditto on the Lelesater and Ileranni 8 per cent. sleek,
5,6001. ; on the Leeds and B 10 per seat.
22,5001. ; on the Beblei mad Birminghaia 8 per amt. Wok,
50,7741 ; the pepeeientill& shares chargeable tore veme
12,1001.; ese ,Ilft the total share ea revenue, 416,1104, end
a banes of 212,350 E, from win* is to be de-
daMai 10,0661 as a fund for the renewal of the
peemenest way, leaving a disposable balance of 202,8601.
Vto dividend. The disposable balance for the
eaded the 30th of June was 1964601., oat at
a *And was paid on the consolidated stock of the
et lbe rate of 8 per cent, per annum, amountiog
In ansa at 198,3791. The statement shows that while
thin bIN been ea lacrosse of 6,8901. in the disposable
%dawn sf tkm somas amount over the preceding half-year,
them bas bees as iisreses in the capital account during that
pods& st 1114.1751.
The C. 11•14, in moving that the report of the dl-
MSS be adopted, stated that they felt that they had dim.
tXtheir duty the beet of' their ability :if they bad
ii to t
was frees want of judgment, and not from want of
as honest intention.
Mr. A. H. WEYLIE (of Liverpool), to moved that a
esemaittee of inquiry be appointed, toinvestigate the real
state of the company, efface.
The CHAIRMAN warmly defended the Board of Diem
Mrs, and expressed his surprise that such a resolution
sheet& have been proposed after the exprevion of confidence
whisk they bad gaven to the directors. He challenged hon.
pregristers to bring forward specific charges, and the dire..
ton would be in a position to meet thirst. The books were
open to any proprietor for inspection, and the directors
would call a epccial meeting at any time to receive
any somplaiat hem a shareholder who could find a flaw
in their books, or in their conduct. So long, and ao longer, as
they retahsedthe confidence of the proprietary they would
labour for sleek inbreeds ; but he did not se how say gen-
tleman could eontiaue to tit upon that board if such a reso-
lution was passed, when no attempt had been made to charge
them with misconduct or dereliction of duty. (Cheers.)
There were many speakers pro and eon, but the confusion
was at times so great as to render a faithful report impossible.
Dr. O'Brien withdrew se the seconder after the declaration
of the chairman that he should regard the vete as one of
want of confidence. Mr We lie would also withdraw as
the mover it the chairman would promise that the scounnts
should in future be made out after the model of the London
and North-Western; and there was a generally expressed
wish that the amendment, which at first seemed to have
many supporters, should be withdrawn. No arrangement
was however ease to, and a show of hands was taken.
Very few hands were held up for the amendment. The
report was then adopted ; and a vote of thnnks to the direc-
tor., expressive of entire confidence in the board, moved
by J. Btrutt, Esq. (high sheriff of the county), was carried
by acclamation.
A petition to parliament on the subject of rating of railways
was passed; and a vote for 15,0001. for the ankstement
stations, rendered necessary by new lines running up to
them, was taken. --
Thanks were voted to the chairman, andathe—meetieg
separated at a little before six o'clock.

WEST CORNWALL RAILWAY.
Half-yearly General Meeting.—London, Feb. 15.—Capt.
110011.04 in the shale. The report stated that In conse-
quence of a circulation of a printed statement of the com-
pany's position in August last, and the efforts of the mem-
bers of the local committee in Cornwall, the erroneous
imprestions which had previously existed respecting the
company's affairs had been removed, and assurances of aid
from owners of property on the proposed line of railway and
other gentlemen of kcal influence and interest had been
received. The suggestions made by the board at the last
half-yearly meeting, by which it was hoped that proprietors
of shares paid up in full would see it to be their owe
advantage to concur in a plan for equalising the burden of
interest and dividends on paid-up-eapital, had not been met.
The directors, therefore, had had regard to the neesmity of
easpendivg calls, and having been thus thrown for their vs-1
sources upon the net profits of the working portion of the
railway, had found themselves unable to continue the pay- I
nest of four per cent., and had given notice of the emetics
of such interest accordingly. The only mode in which the
proprietors could hope to realise a fair dividend, would be by
extending the railway in successive portions as the funds of
the company would admit ; but they should at the same time
beer in mind that every year's delay would necessarily throw
some additional dead weight on the capital of the company,
notwithstanding the efforts which had been sucxesfully mode
to reduce the outlay. Agreeably with their intimation to
that effect in August last, the directors had not entered into
say engagements or contracts involving expense upon the
proprietors. Arrears of call upon 2,025 shares had been paid
ascii the 30th of June last, and the directors would pursue
the course adapted to recover the sums due from parties in
default. No renewal of the overture+ previous) y made by
Mr. F. Mowatt, MP. bad been received, and the proceed-
ings had gone on without interruption in the hands of
the solicitors specially appointed for the case which was
expected to come on for trial befouls the expiration of the
present month. The application of the company to the com-
missioners of railways for an extension of time for the par.
chase of land and the compleion of the works, had resulted
successfully. and the certificate of that board bad been given,
extending the powers of the company until August, 1861,
for the purchase of land, and to August, 1865, for the com-
pletion of the works. The directors who fotmed a local
committee had periodically inspected the works of the opened
portion of the line, and had revised the whole afire accounts
and expenses. They had found the condition of the
works generally satisfactory, and where repairs had been re-
quired they had been executed and paid ter out of the re-
venue account. One tulle of new rails and bearings bad been
received, and had been laid down in place of the old ones.
The engine., carriages, and waggons, were in fair working
order, and the consumption of the former had been mate-
rially lessened, and the mileage cost of the trains reduced. A
reduction had also taken place in the worbing staff, and,
under the are and zeal manifested bythe superintendent,
Mr. Pike, and the resident engineer, Mr. Brunton, the di.
rectors were happy to find their anticipation of an increase in
the net returns had been r allied. The revenue for the
half year ending 31st Duna) r Let, exhibited, as compared
with the corresponding period of 1847, an increase on mer-
chandise and a decrease on ores, coal, sand, and passengers.
But upon the total balance of net profits on the last half
year of 1848, as compared with the correeponding half-year
of 1847, the increase had been 3911. 10s. 9d. The directors
attributed the diminution of the gross receipts partly to the
late general depression of trade, but more particularly in re-
spect of passengers, to the high fares charged by omnibus
proprietors who connect the terminal towns with the
present broken portions of the railway. This sub-
ject had received due attention, and means would
Ise taken to prevent monopoly if it could be effected
consistently with due regard to the funds of the company.
On the other hand, a new traffic had been opened on the
Truman branch, which would not be lost sight of by the
local enunittee. The directors desired, emphatically, to
contradict a rumour, to the offset, that there was en inten-
tion of breaking up the company, and they repeated their
envied= th t the local sources of traffic on the line between
Truro and Penzance, were alone sufficient to return
a satisfactory dividend on the estimated expendi-
ture, and slur that such dividend would be increased ma-
terially by the soostreation of a railway through the eastern
districts at In the meantime until the forfeited
shares should be disposed of, and the undertaking placed in
a position to shines, it should be remembered that the com-
pany, although only he polemics of a partially opened rail-
way, had a traffic suadent to pay the necessary expenses and
leas interest, with a small surplus, and with no liabilities
which the exercise of madame could not meet, and
eventually liquidate. The receipts during the past
half you were as follows : For ore traffic,
3,8211. dc Bd. ; oral ditto, 1,7561. 10s. lid. ;
lead ditto, 1341. 14s. 9d.; merchandise traffic, 1311. 16s. ;
ditto exotousers, 1411. 10s. 11d. ; passenger nears
7341. Os. ad., which, with a balancer in band on the 30th
June bet of 1,3461. 10e., makes a total of 8,0801. 7s. 5d.1
The expenditure amounts to 5,1231. 4a. 4d., which, with
interest on mortgage loan 2361. 91. 7d., ditto on debentures
7281. 2a. 13d., and a Wanes of 1,9931. 111., shows the total
on the debtor side to be 80801.75. 6d., and leaving a work-
isg profit on the line for the peat six swaths of 1,810195. 14.
The CHAIRMAN said that since the last meeting far
the election of directors a new board had been constituted,
which he believed romemed the aeslidenee of the great body
of the proprietors. (Hear.) Tither's dearly missed by the feet
thin the dinettes bad sew prods bshares to the amount
of between five sad obitheumwd. thee 11.10111.10181. shares had
bees paid up, end fist d their riseistissa bad mak with-
out a firrestiest. The directors bed Itosil that the
rands arising *ea ea amid sot be relit& es ew the pay-
load-et Lateral, aril Midland that it was the ustabsous
folio, of the abanitaiiiss that cell. should set be node for
ber)tisd be was bayirretesslarwea that
Itzw=m, best tied
by the by set
derreptiai any sash oall. They bad thee -lowa
Moms kr their restareas ea the wtoldikpeatioa et the
=, they bed fassd that, tear
with:reed
there bad bass a mall sondes when
divided tam the thweheidars. would set areesst te
ewe thSs. or le. at rout pee share. They
had, thirds*, massed it advisable ft emery the Wows
to the aredaressesot. Wiet=re=sowsa, he was
slat to ray they had bees oboe
I. It woe to be ressteled list dot pieties et the MAX:
Wen Hale and nein* was set is • 14111 w toslities ler
sale& stodwolestithat It required ass beta lepetlera
dolmen (Isswailwitelf maw), make Wined its was
es Is attributed le the steeps= et the gradiaste.
Thaw bad boss a falling el la the astiktp_at the peat year
•seapasid with the previous yeas at NIL e‘ but ea
tbs elbatbsed there had bees a daresee atfllLie.4l. es
it empostieorw of 1848 ea compared with ma. -Frew
theasismte et /Ir. Nasal, it appeared VW sheet 1.0,0001.
ia oddities to the meaty already exploded ea the Sae would
be invited to compiste it ; sushi esaidiesi 31 Weald be