The Express.
London, England, 1851-08-21 00:00:00

the course which he had marked out for himself.

in the

lint place it was not for a bishop of the church of God,
whose first characteristics should be charity, meekness,
and humility, to sot pride in opposition to the pride of
the state. It was his duty in every way he could to
avoid collision with any enactment, howevever penal
or atrocious. But where his duty warded him to
obey the divine law, he must do so. Ile could
not possibly withhold the signature of his office—which
was inseparable from his person and was indicative of
his title, though not in the legal sense of the word,—
from certain ducuruents, without himself becoming a were-
ant to the church of God, and an apostate to his high
office. (Cheers.) Therefore, where he could not otherwise
fulfil his duty, he would append the whole designation of
his office, where it was needful it should be done. (Cheers.)
Th m as to the consequences of so acting, he had come to
the conclusiou, after mature deliberation, that he could not
have recourse to the purse which was confided to him fur
the support of •he clergy and the promotion of religion,
fur the payment of fines inflicted by this penal enactment.
Ile was prepared at once to go to gaol—(Tremendous cheer-
ing, and waving of hats, handkerchiefs, &c.) But should
his spiritual children feel the want of their pastor, it would
be no acquiescence in the penal act, but a strong protest
against it for them to raise a fund—by a penny subscription,
suppose—for the purpose of delivering him out of gaol.
(Cheers.) He thought the inhabitants of Birmingham
would be ready to enter into such a protest if needful, and
that the uovenituent would tire of prosecuting before they
' tired of delivering him out of gaol. (Cheers.) After souse
further observations the rev. bishop resumed his seat.
Mr. JOHN REYNOLDS, M.P., came forward to second
the motion, and was received with loud cheers. In the
course of a lung speech he said, he heard his venerated
friend, the Lord Archbishop of Birmingham, say that he
would elsey the divine law, before which that of the House
of Commons crumbled to the dust—that he would sooner
go to prison than turn his back upon his principles. No
Irish bishops who obeyed the divine law would ever ap-
peal to the people in that sea-e. If pence were subscribed
here to pay the tine of a bishop, he believed the money
would be applied to other and more unpleasant purposes.
Ile would leave it to Lord John Russell, Lord Clarendon,
or the Attorney-General, to translate into plain English
that sentence. They (the government) should incarcerate
no bishop here for discharging the duties of the sacred
office imposed upon him—(cheers)—and if lie were in the
House of Commons, instead of addressing his grace and that
meeting, he would tell Lord John Russell what he had told
him over and over aga:n, that he dare not imprison an Irish
catholic bishop. (Cheers,)
The resolution was passed.
The Roman Catholic Bishop of CLONFERT moved the'
next resolution, as follows :—" That, as one of the great
constitutional and practical means of carrying out the ob-
jects of this meeting, we pledge ourselves to make every
effort to strengthen the bands and increase the power of
those faithful representative who, fa the last session of par-
liament, sac energetically devoted themselves to the forma-
tion of an independent party iu the legislature, having for
its object the maintenance of civil and religious liberty in
the British empire. That the following prelates and mein-
biers of the legislature be a committee to define with
accuracy the objects which are to occupy the associa-
tion, to frame the rules and regulations by which it
shall be governed, and to submit the same to the next
general meeting of the association : The Roman Catholic
Archbishop of Westmiuster, the Roman Catholic Bishop of
Birmingham, the Bishop of Nottingli an, the Bishop of Hex-
' ham, the Bishop of Southwark, the Bishop of Liverpool,
the Bishop of Beverley, the Bishop of Salford, the Bishop
of Northampton, Paul Archbishop of Armagh, John Arch-
bishop of I' warn, Archbishop of Cashel, Bishop of Ardmrh,
Bishop of Achonry, Bishop of Meath, Bishop of Curk,
Bishop of Waterford and Lismore, Bishop of Clonfert,
Bishop of Killala, Bishop of Cleyne, Bishop ot Kilmaeluagh,
Bishop of Raphoe, Bishop of Ross, Bishop of Clogher, Bishop
of Kerry, Bishop of Killaloe, Bishop of Flphin, and Bishop
of Derry John Reynolds, M.l'., Dublin; William Keogh,
M.P., Athlone; George H. Moore, M.l'., Mayo; J. Sad-
kir, M.P., Carlow; 0. ()Angelo., M.P., Mayo; Martin
J. Blake, M.P., Galway city; Nicholas V. Maher, M.P.,
Tipperary; Francis Scully, M.P., Tipperary; Thomas
Meagher, M.P., Waterford, and Robert Keating, M.P.,
Waterford; John T. Devereux, M.l'., Wexford ; Timothy
O'Brien, M.P., Caehel ; John O'Brien, M.P., Limerick;
and Michael Sullivan, M.P., Kilkenny."
The motion was seconded by Mr. Blaseoxi, and adopted
by the meeting.
Mr. VINCENT SCULLY, M.P., moved the next reso-
lution, as follows: "That the committee be charged to
prepare and publish an address to the catholic* of the
United Kingdom, on the present position of catholic

affairs."
Mr. JOHN RAWSON, of Lancashire, seconded the re-
solution, and in doing so said that the meeting were enti-
tled to the assistance of the dissenting body of England,
because during the period of agitation preceding Roman
catholic emancipation, those who were agitating for that
object petitioned for the extension of the religious liberties
of the dissenters.
The resolution was put and carried unanimously.
Serjeant SHEE moved the next resolution as follows:
"That we cordially tender the grateful thanks of this
meeting to the Duke of Newcastle, the Earl of Aberdeen,
the Lord lenteagle, to Sir James Graham, Mr. Gladstone,
Mr. Sidney Herbert, Mr. Rounde 11Palmer, and those other
distinguished prottQtant member who so ably sustained, in
the legislature, the cause of religious liberty.,
Mr. J. F. ISIAGVIRE seconded the resolution, which was
put, and carried unanimously.
The Rev. Mr. KEARNEY moved the next resolution,
as follows: "That we heartily congratulate the country
upon the cordial unanimity of feeling and opinion which so
happily exists between catholic nobility, hierarchy, clergy,
and laity of the United Kingdom."
Mr. JAMES MCANN of Drogheda, seconded the reso-
lution, which passed unanimously.
Viscount GonstaNatos was then called to the chair,
and

Mr. O'FLAIIERTY, M.P., moved —" The sincere thanks
of the meeting to Archbishop Cullen for hosing presided
over their deliberation'."
The lion. M. PRESTON seconded the motion, which
was passed by acclamation
The Very Rev. ARCHBISHOP thanked the meeting for
the compliment. He expressed hie admiration at the de-
corousness, propriety, and good feeling with which they had
conducted themselves. Ho believed there had not been a
word uttered there that day which, when properly under-
stood, could off,nd any person. He trusted that what had
taken place there would make them all better subjects,
better Christians, and better able for the fulfilment of all
their duties. They were ordered to render unto Cws sr the
things that were Cesar's ; but they should at the same time
give to God the things that were God's. He called upon
them, in conclusion, to forget all the provocation which
they had received.
Three cheers were then given for each of the members of
the Irish Roman catholic church, Mr. Reynolds announcing
them with the prohibited titles, after which the meeting
terminated.
At the breaking up of the meeting. the vicinity of
the Rotund() was thronged with an immense crowd,
which loudly cheered the principal persons who took
a part in the meeting, according as they went away.
Most of the shops in Sackvilk-street had the shutters
upon their windows. A number of noisy fellows,
who had provided themselves with sticks, good
naturedl assisted the police in preserving decorum,
and making the mob " keep back," after a fashion
which has been sometimes witnessed in this city.
The multitudes opposite the Roman Catholic Com-
mittee ltooms, Lower Sackville-street, were addressed
from the windows by Mr. Reynolds, M.P., who de-
tailed to them the proceedings of the meeting, re-
I peatedly giving to the several members of the Roman
Catholic Church the prohibited titles, which pro-
duccd loud cheers. Mr. Keogh, MP., also addressed
the crowd from the windows, and exhorted them to
go home peaceably. For a considerable time after-
wards Lower Sackville-street and the neighbouring
streets were much crowded.
The Lord Mayor of Dublin has issued an invita-
tion to the several heads of departments to a grand
banquet at the Mansion House, on Wednesday next,
to meet the promoters of a transatlantic packet
station.
The following
ingpa.pers:
IGlorious ascendancy of the ancient Irish church! De-
monstrated wrong of the modern Roman ssetanans .. The
committee of the Dublin Protestant _Association herchygive
no Me of a great meeting on an early day, in reference to

appears in the morn.

the packed conclave miscalled "an aggregate meeting of
catholics," held on yesterday, and to adopt an address to
the crown touching the conduct of the constituted authori-
ties in Dublin, and on the maintenance, by force, of illegal
title., and on the suppression, by force, of every loyal effort
made to assert the supremacy of the Queen and of the laws.
Protestants! Analo-catholics! true catholics! you have
had a glorious victory. lO surrender—By order of the
committee, TuoMAe Fl. Tuoweows, Chairman; CHARLES
BANICS, THOMAS WALLker, Hon. Secretaries.

RAILWAY MEETINGS.

MIDLAND RAILWAY.

Yesterday tho half-yearly meeting of the share- '
holders in this railway was held at the Company's station at
Derby, Mr. JOHN ELLiii, M.P., in the chair. The hon.
gentleman was accompanied by Mr. Beale, the deputy
chairman, and a considerable number of his colleagues in
the direction. The attendance of shareholders was compara-
tively small.
The SECRETARY read the report and accounts, an ab-
stract of which appeared in the Express of Friday last.
The report stated: " The large decrease in the coaching
traffic is a subject of the deepest concern to your directors.
They had anticipated that the opening of the Great Exhi-
bition, in May last, would have largely increased the re-
venue of the company. They regret that this has not been the
case, and that their expectations hare been disappointed ;
for, although a great number of passengers have been
conveyed over the Midland Railway to and from Lon-
don, the competition of the Great Northern Company has
materially reduced the receipt over a considerable portion of
your line; whilst the flow of traffic to London, which has
this year been so remarkable, has diverted much of it from
its ordinary channels, and has seriously damaged the receipts
from the local and excursion traffic of those portions of your
railway not affected by the Great Northern or other compe-
tition. They see no reason to alter their opinion of the
policy of the arrangement with the Oxford, Worcester, and
Wclverliampton company, and of the equitable claims which
the London and North-Western and Midland companies
have upon that company, for the honourable carrying out
of the agreement which they themselves had voluntarily
proposed, and had subsequently sanctioned at a meeting of
their shareholders."

The report of Mr. Barlow, the engineer, states that WI
miles of railway are maintained by the company at a cost of
1241. per mile per annum ; and that the iron road continues
to exhibit very satisfactory results.
The CHAIRMAN, in moving the adoption of the
report, said:—With respect to the requisition which has
been submitted on the subject of granting free passes
to our meetings, we offer no opinion ea the subject;
we, as directors, shall take no part whatever in the
question; it is a shareholder's question, and with you
we shall leave it. (Hear, hear.) By the report it will
be seen that there has been a decline of 17,0001. in the pas-
senger traffic, and nn increase of 26,000/. in the amount
received from the goods and merchandise traffic. At
the last half-yearly meeting I expressed an opinion that
there was es much to come on our line as could be
taken from us, and up to this time I think the
result has shown that I was right; and taking
all circumstances into consideration, I think our accounts
are more satisfactory. (Hear.) Now,. with reference to the
increased sum received on our merchandise traffic, it is
proper to state that that amount has not been received
on the same rates as formerly; our rates have been re-
duced, and considerably reduced, by competition, and not-
withstanding that, our revenue under that head has been
increased. The goods traffic for this week shows an in-
crease of from 700'. to 800/. over the amount received in
the corresponding week of last year. (Hear.) But, with
regard to the passenger traffic, I must say that that has
disappointed me. I had great expectations from the Great
Exhibition; and I must now confess that, if we had looked
at the subject with more calmness, we should have arrived
at a different opinion. (Hear.) We have no line into
London. The Great Northern has robbed us of a good
deal of the traffic from York and that part of the country;
end a, to the traffic to be derived from the persons
travelling from Derby, Lire-ter, and Nottingham to
London, the proprietors will easily see that our
share of it would he comparatively trifling in amount.
(hear.) And the Exhibition has interfered with our in-
ternal traffic in a most remarkable degree. Take the Bir-
mingham and Gloucestershire, which is not affected by the
Great Northern : last week our receipts on that line were
400/Jess than the corresponding week of 18.50 ; and the
week before I think they were less by 5.i0/., although on
that line there has been no reduction of fares. But the
fact is there has been nobody going to Cheltenham this
year ; scarcely anybody to Scarborough ; and the little
Matlock line has experienced a decline in its receipts
this year amounting to twenty per cent. (Hear. hear.)
All this is entirely owing to the Exhibition ; and,
although I ant not going to prophesy, I have the
strongest hopes and belief that in the winter months
our goodie and mineral traffic will exhibit a very different
state of things—that is, that it will make up for any decline
in the passenger traffic, when that traffic has returned to its
ordinary channel. (Hear.) We have suffered, too, from
reduced tonnages on the o:ford canal ; those tonnages
cannot, however, be now put lower. (Hear.) I turn next to
a subject of great importance—l mean the arrangements we
have with the London and North Western, the Manchester,
Sheffield. and Lincolnshire, and the Lancashire and York-
shire ; all these are most advantageous for this company.
Our agreement with the London and North Western is for
twenty-one years; it has worked greatly to the satisfaction
of the board. The accounts in the aggregate show a larger
I amount of receipts than are exhibited by the weekly returns,
and this excess arises out of our agreement with
the London and North Western Company. (Hear,
It was, indeed, his (the chairman's) opinion that it wan
the interest of the Midland Company to draw closer than
hitherto the bonds of union between themselves and the
London and North-Western Company. The directors
knew their position, and they would try to make the
best use of it. The Great Northern, they would recol-
lect, had been opened little more than a year ago, and on
that occasion they (the Midland Company) were anxious to
prevent useless and wasteful competition. Their first object
was to obtain an equalisation of rates and fares upon those
parts of their respective lines which were more particularly
competing portions. This they secured, but in March last
the Great Northern gave a month's notice to terminate that
agreement. Before that period they had entered into several
traffic agreements with the North Midland, the Newcastle
and Berwick, the Caledonian, and other companies, to divide
the traffic north of York. Auy competition with the Great
Northern would net, therefore' affect that traffic for five
years. The matters in dispute between the Midland and
Great Northern had been referred to Mr. Gladstone. That
gentleman had, he believed, sent for the last information
be should require upon the subject, and the award might be
expected within a furtnight. If they would place their con-
fidence in the directors they would do their best to protect
the property of the shareholders. They would make the
must of it. It was essential that the directors should pose
mess the confidence of the shareholders, more especially with
regard to the matters to which he referred; if they did not,
if the shareholders did not believe that they were acting
honestly fur the good of the property under their manage-
ment, they would be utterly powerless, and the sooner they
were removed the better. When the Exhibition was over
he was confident they would ace a very different state of
things. For himself, he saw nothing discouraging in the
affiiirs of the Midland Company, and he should conc.ude by
saving that the report be received and adopted.
Mr. BEALE, the deputy chairman, seconded the motion.
Mr. DEAKIN, of Birmingham, inquired bow much of
the 6s. paid by each passenger from Leeds was paid to
the London and North Western company ?
The CHAIBMAN—Their mileage rate. Everything is
shared equally by the London and North Western.
Mr. DEAKIN—I think it is absurd to carry passengers
at ssieh a price. Better give it up to the Great Northern
eVICHAIRMAN—I disagree with the hon. proprietor.
The strength of our case is in keeping up the competition
with them ; and I can tell you that, with full trains,
6sMr..ukAKiN__. protest against it; it is insanity to con•
time such a system.
Mr. MYERS moved a resolution, to the effect "that the
meeting utterly disapproved of the absurd contest with the
Great Northern, and desired the directors to discontinue

it."
This motion having been seconded,
Mr. IRONSIDES, of Sheffield, said that he expected
that something would have been said on the subject of the
accident. He wished to know whether Mr. Paget had paid
the damage ?
The CILAIRMAN.—You know that he hu not. But I
do say this, that the directors do all they can. Looking at
the millions we have carried, our accidents have been mar
vellously slight.
A PROPRIETOR—How much did the Claycrass acci
dent cost the company ?
The CHAIRMAN—I can't tell you at present. In our
accounts to tke end of the half-year we have charged every.
thing settled to that time, amounting to from 4,0001. to
6,0001. There arc other claims to be adjusted ; when they
are paid everything will be laid before the proprietors.
Mr. IRONSIDES said that judges and juries appeared
to think railway companies good game. He thought the
time hal come when railway companies ought not longer to
stand still and be robbed. It appeared to him that in
future every man taking a ticket ought to be asked how
much he was worth, and charged accordingly. lfe,be-
lieved that one of the claimants in the Claycross accident
(Broadbent) might have been settled without any legal
expenses if the matter had been referred to a local
committee.
Mr. MITCHELL inquired whether it was intended to
pay Mr. Blake 4,0001., the award of the jury ?
The CHAIRMAN—Don't press that question ; the sub-
ject is under consideration.
Mr. IRONSIDES—Have you fairly earned the dividend
you propose to pay ?
The CllAlRMAN—Certainly ; it was earned to the
30th of June ; if you like to make it less by 20 per cent.
it is your affair, and I shall not oppose it. (Laughter.)
The report was then put and unanimously adopted, as
were also subsequent resolutions, declaring the dividend in
the various stocks.
On the motion of Mr. BARROW, M.P., five sharehold-
ers (each holding 2,0001. stock) were nominated to select an
auditor, to be named by January next. The five gentlemen
named arc Mr. E. Baines, Lends; Mr. D. Malin., of Bir.
I mingham; Mr. G. Maxwell, of Liverpool; Mr. O. Cham-
bers, of Sheffield; and Mr. John Sheard.
In the course of the discussion on this motion, Mr. Good-
man, of Leeds, expressed an opinion that parliament made
a great mistake when it sanctioned so many lines of railway,
and Sir Robert Peel never more greatly missed the right
course than by sanctioning what he called direct lines.
The subject of the delays on the Midland lines was
t adverted to, and the CHAIRMAN promised attention to
secure amendment. With reference to compensations in

CRAM of accident, he said that at the next meeting at the
Clearing House of persons concerned in railway manage-
ment, some attempt would be made to rectify the evil and
injustice under which companies were now suffering.
The motion of Mr. Myers, on the subject of carrying
passengers from Leeds for five shillings, was next di,-
cussed.

A PROPRIETOR from Wales moved an amendment, to
the effect that " Thc whole question of competition with
the Great Northern should be left in the hands of the
directors."

The amendment having been seconded, was put and
carried. - -- - - • - .•

The meeting was then made aperial for the consideration
of an arrangement of the Midland Fifths, in accordance with
the resent net of parliament.
The CHAIRMAN explained that the arrears of calls on
these shares amounted to about 286,000/. It was intended
at once to take steps to obtain the payment of this amount ;
and yesterday the directors haJ decidial on making a further
call of 3/. 6s. bd. on account of these shares. They hoped '
that no further call would be necessary ; the capital account '
was now virtually closed.
Atter a brief discussion, the following resolution wan
put and carried : That it is hereby ordered and direettal
that when and as soon as any proprietor of any of the
501. shares legalised by the Midland Railway Capital Act,
1811, shall have paid up the sum of 311. in respect of any
such shares held by him, and shall also have paid up the
call of 3/. Cu. 84. per share made therm; on the 19th day
of August, 1851, such share shall be divided and converted
into two shares, one of the nominal value of 331. 6s. &1.,
and the other of the nominal value of It!. 13s. 4i1., in re-
spirt of which share of It!. 13s. 4d., the sums of 1/.134.41
and 3/. 6s. Bd. shall then bo taken and considered as
having been paid.and thereupon each such share of 331. fia. 83.
shall be converted into stock, and be added to and be-
come part of the consolidated stock of this company."
The subject of the requisition to the directors on the
subject of the withdrawal of passes from shareholders to
attend the meetings of the company was neat brought
before the meeting by the CHAIRMAN, who, however, de-
clared that the directors would not ,vote on the question.
He at the same time explained how much the pass system
was abused ; proprietors holding as little as 5/. in the coin-
pony, and having no claim to vote, making use of their
passes to traverse the line, us often as the meetings occurred,
on their own business, and never appearing at the meet-
ing; these persons having, in fact, nu claim whatever to
VOW, or in any way influence the proceedings. 3 he amount
of stock held by the gentlemen signing the requisition to
discontinue the passe. was 261,933/.
A very stormy discussion ensued ; and a great number of
motions and sum:ailments were made ; Mr. Bowen, of
Leeds, strongly supported the continuance of the present
system: ultimately, Mr. CLAY, banker, of Billiton, moved
an amendment that the pusses should In: discontinued.
This was negatived; but a motion was carried to the
effect that in future no person shouldreceive a paasto attend
the meetings who held less than 100!. stock.
In the course of the discussion, the CHAIRMAN, re-
ferring to their traffic, said that in the corresponding week
of last year their traffic was the largest receipt they ever
had on the Midland line ; itamountedio 21,5W1.; this week
(that is up to last Saturday), it was upwards of 25,000/.
(Cheers.) On the Bristol and Birmingham line the receipt
in the week to which he referred this year, was 3,554/.
against 3,338/. last year ; on the Leeds and Bradford, the
increase on passenger traffic waa7l/.
A PROPRIETOR asked Mr. Ellis, what effect the
Great Western opposition would have on the Midland;
competition from that quarter might soon I,: expected.
Mr. ELLIS replied that it would be time to consider it
when it came. _ _

At the conclusion of the day's business a rote of thanks
to the Chairman and Board of Dim tors was carried by ac-
clamation.

EAST LANCASHIRE RAILWAY.

--•
The proprietors of this railway assembled at the
station in Bury, yesterday, to transact the ordinary busi-
ness of the half-yearly meeting, and also for an extraordi-
nary special general meeting, to raise additional capital to
complete the undertaking. Mr. Jour; DUUDALE, chairman
of the board of directors, presided.
The Secretary having read the report of the directors,
The CIIAIRMAN congratulated the shareholders on the
favourable auspices under which they hail met as compared
with the autumn meeting of last year. There had been a
steady increase of traffic arising front the natural develop-
ment of the remurces of the district through which their line
passes. That increase was not dependent therefore on any
foreign contingencies. And there could be little doubt that it
would go on with the further development of the traffic and
the increase of manufactures and population in the vicinity
of the line. The gross receipts of the first half of last year
were 77,000'., and the second half of the saute year 99,000/. ;
whilst the receipts of the past half-year were 102,5611. The
working expenses for the respective periods hail been 60,
421, and 41 per cent. The receipts front the merchandise
traffic between Liverpool and Blackburn had increased
to the extent of 1271 per cer.t., to Accrington from the same
direction 42 per cent., to Burnley 100, Culne 77 per cent.,
and toShurch 118 per cent. (Hear, hear.) Their receipts
from Salkird and the other stations upon the railway
showed 71 per cent. increase, and from Liverpool and other
stations 821 per cent. At Preston the merchandise traffic
for the half-year just ended, compared with that ending
June, 1540, 1s hielt was before the extensiou line was
opened, showed an increase of 167 per cent. in money, and
of 448 per cent. in tons carried. The gross receipts
at Preston for the half year coiling June, 1851, showed an
increase over that ending June, 1830, of 6,7101., which hue
been earned during the ling half-year the extensiuu railway
has been opened. If they gave the credit of that increase
to their free ingress and egress, and their being endue il to
do their own business instead of leaving it in the hands of
their competitors, after deducting the working expense., it
was sufficient for paying 4: per cent. on the ultimate cost of
the Preston Extension Railway and station. If they ud
milted that station accommodation would be required at
Preston under any circumstances, it left a return of more
than 7 per cent. on the cost of the railway. (Bear, hear.)
There was come improvement also in the management of
their line, as an instance of which lie might mention the
fact that whilst in the first half of last yeses they paid 877/.
fur demurrage of waggons, carriages, and sheets, and in the
next half-year 33/., in the half-year just ended they bad
nothing to pay, but had received 16/. Ils. (Applause.) The
directors attributed the increase of their receipts principally
to the ex tension of their local traffic. On the merchandise
. .

traffic, for the half-year ending June, 1860, they had, in
goods, 50,386 tons; in June, 1851, 61,062 toms; in coal,
June, 1850, 33,831 tons; in June, 1851, 62,747 tons ; in
minerals, June, 1850, 16,863 tons; in June, 1851, 40,77::
tons ; in live stuck, 919 waggons in June, 1850 ; and 1,365
waggons in June, 1851; whilst the foreign merchandise
trathc had increased very little. The average increase of
receipts for the six weeks of the current halt-year, ending
August 10, was 6111. per week over the corresponding six
weeks of last year. There was a paragraph in the report
with respect to the toll paid by the Liverpool, Crosby, and
Southport Railway, for passing over the entrance into Li-
verpool, belonging to the East Lancashire and Lancashire
and Yorkshire Railway. It had been announced that that
company intended to declare a dividend of 1 per cent. per
annum on their shares, though their railway had only been
opened through since October, 1853. If tkat was the case,
they could only have been enabled to pay such a dividend,
through being allowed to pass over one of the most ex-
pensive railways into one of the most important towns
of the kingdom, at a very low rate. On what point of law
and equity could they ask this company to forego their
rights, secared to them by act of parliament, to enable
others to pay a better :dividend than they got themselves
The directors were, therefore, convinced that they would
not be perf..wmiug their duty if they did nut insist upon
their paying the full parliamentary toll, which they
were advised that this company could obtain. The dimi-
nution iu the NO and parliamentary expenses of the half-
year, shown in the report, was one of the effects of paying
their solicitor a tiled salary. The directors had purchased
property fur the necessary enlargement of the Salford sta-
tion, on terms sufficiently reasonable to render it a good
investment for private individuals. That extra cost would
not increase the estimate which had been given of the cost
of the station. During the course of the last half-year the
directora had been applied to by the shareholders of the
Bolton, Blackburn, and Clithei'ue Railway, to ascertain
whether this company would abide by the proposi-
tion formerly made and sanctioned by the shareholders
of the East Lancashire Railway. After mature con-
sideration, the directors had determined to make the same
offer to that comp.uty as before, with the modification pro-
posed by the Lancashire and Yorkshire company, relative
to allowing the company to amalgamate at what they were
worth. The directors had uo doubt this would meet the
approval of the shareholders, since the offer had been for-
merly sanctioned by them. During the last half-year the
directors had proposed to the secretary of the company to
Increase his salary, on the same principle as they pursued
with some other officers of the company, namely, an in-
crease in proportion to the increase of their dividend. The
chairman concluded by moviug the adoption of the report
and stat ment of accounts.
Mr. JOHN liovr, of Stubbylee, seconded the resolu-
tion, and complimented the directors upon their successful
management.
A SHAREHOLDER asked when the offer was male to
the Bolton and Blacaburn line, and what would be the cod
to this line.
The CHAIRMAN said their proposal was to take the
plant. of the present Bolton and Blackburn Company, and
Ito work the traffic for 40 per cent.—ln answer to another
question, he said that the railway companies intended to
raise the canal tolls on the Ist September.
A SHAREHOLDER said 8,0001. was charged in the ac-
counts for new stock, whilst in reality there appeared to be
but little increase.
The SECRETARY said they had bought four new first
clam carriages, and a number of horses and other miscella-
neous stock had been bought.
The CHAIRMAN, in answer to another question, said
the canal lease was not yet completed, and there had een a
small leas on working it so far ;the revenue of this railway,
however, had been increased through that agreement, and
when the tolls had been advanced so as to prevent the bye-
traders along the canal from under-carrying the com-
pany, they expected to realise a profit from the canal
per as.
Mr. PENRISE, R.E., suggested that the payments of
compensation for injuries sustained by passengers should be
paid out of the reserve fund instead of out of revenue.
Mr. T. WRIGLEY denied that the sum of 67,0001. was a
reserve fund. He cautioned the shareholders that their
only safety was in speedily closing the capital account.
The motion was then carried.
The CHAIRMAN moved a dividend at the rate of 6 per
cent on the preference shares and of ss. per share ou whole
shares, and ls. Cal. on quarter shares, on the ordinary capi-
tal, to be pall when and how the directorsmight see proper.
Mr. RILEY seconded the motion.

The resolution was carried nem. refl.
The meeting was then made special.
The CHAIRMAN moved the reduction of the directors
from 16 to 12 ; which was agreed to.
The confirmation of the forfeiture of 912 quarter share.,
on which 2.5.. per share had been paid, was carried.
The CHAIRMAN moved that the directors be era
powered to borrow a further sum on the capital account of-
-425,523/.
Mr. T. ASIITON, director, seconded the motion, and it
was agreed to unanimously.
The proceedings closed with a vote of thanks to the
chairman.