The Express.
London, England, 1847-08-12 00:00:00

030,000?. be raised by the creation of 42,m10shirea
being one new alone for each original share; and that the remaioi
34,538 f. be raised b. loan. That these new shares shall be issued as
preference shares, to receive at all tame a dividend at the rate of
per cent per annum, and to participate with the entire stoek in any
increased rate =double:l which may he declared. That three shares
be paid upon as follows .--1/. deposit on the Ist of =menthe, neat ;
4/ , first call an the Ist of November next : 1f second all on me lock
offanetery, 180; and 5f., final cell on the 28th of March. 1818. That
interest at the rate of S per ant be payable on all calla In armor after
the respective dates, and that 5 per cent. inter= be allowed, and pay.
.thieco the 10lb of April next, on all call* paid in ed ranee. That the
scrip be sent in foe registration an or before the Bth of November
next, on abide day the registration will be completed; and that ia
order to their being registered la the name of thy other these the
party to whom they shall Ma been originally allotted, it be indispen-
sable that the call due on the Ist of November shall h ire been paid,
others tar the original &Hotta. to be rc-siateredl. That the lest dlri.
dead be calculated from the Ist of .tprit. 164 x, upon all shares
paid up U. full at that date; and that as regards tho.e
that may not then be paid up in full, the dividend be
esicelat= from the neat succeeding period of three months from the
Ist April, upon which the same shall have been =it up with inte-
rest; that el to say, If paid between April 1 and June 30, the dividend
to be calculated from the sucaesting Ist of July; It paid =tem
July I and Sept 30, from the succeeding fiat of October, ends.
but this arrangement Mall not preclude the directors Lean putting In
force, at their discretion, the powers of the act with roped to fsg.
fattier. Should these recommendations of the directors he tlevered
and adopted by the sharchnlcierst, the future remaining cells upon the
original sheen, on which 311. 10a, has been aild, will be—M. per
share on the 21st of October next; 54 per Mare on the Mat of April.
1849; 51. per share on the 21st of July, ISIS; and 21. 10a. per share
on the 21st of October, 1618. After adverting to the calamity of the
Dee-bridge, the following remarks are made relative to the Camay
and Menai-bridges :

4' Your directors cannot but feel, of aurae, that the circiamitabces
to which they have referred will naturally tend to enhance the in-
terest with which Use public In general, and men of science in parti-
cular, will be dispared to examine the principles upon which the
stupendous bridges intended to span the Conway and the Menai
Shahs are now being carried out. The shareholders cre aware that
those bridges differ altogether, bogs in the it mode of dinstrui Lion and
their materials (rtaLth are exclusively wrought iron), from that which
has unhappily failed near Chester. Mill it cannot bet be expected
that the strength an I safety of the novel and remarkable structures
that are conteistelsted, will be subjected to strict investigation. Tie
result of all the usquirica which have been instituted, your directors
arc assured, ha. given the utmost confidence in the sucoessof the pro.
posed plan. It will be brought to a prat-ticsl test when the bridge
over the Conway is erected, which will be within three months from
this time : and your director. have every reliance that the hem will
be such as completely to justify the expectations of Mr. ittepheneon..
The chairman, is answer to a proprietor, said there wa. no doubt
of their Whig able to open the line by October as far to Conway. The
resident director, Captain Moorrom, Iran in the habit of reporting to
the boats on all matters submitted to him. As to the unpaid calls,
he was happy to my that the only deficiency on their capital, of
2,000,0001., was 17,100/. The locomotive carriages agreed for were
ddivered over to the London and North-Western. As to the traflie,
the directors fully expected that it would vastly exceed their expecte-
Cons —M r. Hobert Stephenson (the engineer) stated that the complaint
' of Gen. Palley, as to the erection of the tubes at the Conway and tln.
tannia bridges cowld not be replied to, for the general agreed with his
(Mr. timpbenson's) principles, but be was totally Ignorant of the
mode of raising those tubes. He was afraid of their falling
into the straits, but he (Mr. Stephenson) saw no danger,
I andwould take every means of providing for the public
aafety. —Captain Mooriom ALN., thought the mode of raisin
the tubes very ingenious, and that it would, no doubt, be quite ell-
, dent for the purpose. Ile had [inopportunity of examining a section! of one of those tuber, and he had no doubt that Mr. Stephenson had
rendered it fully efficient, for Its purpose.—A proprietor mled if, on
contributing the 2tia,00../. towards Holyhead Harbour, they would to
exempt front harbour dues!—Toe Chairman mid that it would be a
free hat boor, and that the 200,00 q. would be paid by them for certain
privileges, and in ram of any other line =alas to the port, they
could insist on compensation.—After some other observations the re.
port was adopted unaninioudy. A resolution for raising 630.000/. by
the creation of 12,003 &area of ISt. each was then pared Omni-
moody. A resolution, which emanated from a proprietor, but met
with the approval of the directors, for renewing the application to
parliament for theemployment of steam-owlet., in coons Mon with
this company, between Holyhead and Dublin, was passed with only
two or three diasentients.