The Express.
London, England, 1849-07-27 00:00:00

RAILWAY MEETING.

EDINBURGH AND NORTHERN.
An extracedinary general ineetiag of the shareholders of
this company wee laild in Gibte's Royal Hotel, on Widnes-
day, Joys BaLrotta, Esq., of Balbionie, in the chair,. for
the purpose of determining upon the terms and condition
on which the new shares to be created under the net enti-
tled the Edinburgh end Northern Railway (additional capi-
tal) Act, 1849, should be created and issued; and of autlur
tieing the director, to exercise the borrowing powers con-
tained in the said act, so soon u the prescribed amount of
capital wee paid up.
The CHAIRMAN said that the first resolution explained
the views of the directors. It was as follows :

"That in virtue of the special powers conferred upon the
company, and for the purpcses authorised by the Rchnbnegh
and Northern Railway (additional capital) Aet, 1819, the
sum of 550,0001. be raised by tne creation of 110,000 new
shares, of the nominal value of 51. each, to be called Oua-
ranteed Shane; and that these thank subject to the 1030-
Intiona following, shall be entitled to a guaranteed interest
or dividend of 51 per eent. per annum, for five years, and of
S per cent. per annum, in perpetuity thereafter, or, in the
event aftermentioaest, • portion of the said shares shell be
entitled to such guaranteed rate of interest or dividend, as
the company may hereafter determine in preference to the
dividendspayable on taw ordiaszy existing share% of the
compasy:
The snood resolution was:

the said sharer, which shall be hewed in such por-
tions, at such perk+, and under such regulations as the di-
rectors shall think proper, shall be paid up by instalments
not exesediag 11. de. each, at intervenor not less than two
caleadu months. That the scrip notes for said shares, on
which the whole instalment. have been paid, shall, on pay-
ment of the last lastalment, be returned to the secretary of
the company to be exchanged for certificates of stock, to be
I registered in the same of the bolder."
3. " That previous to the issue of the whole or any por-
tion of the said guaranteed shares, fourteen days' notice
thereof shall be given by public advertisement, and every
shareholder who shall stand registered in the books of the
' company at the expiry of such twice' and who shall have
paid up all arrears of calls due by him, shall be entitled to
participate in such issue of the said guaranteed shares, rate-
ably in proportion to the teems paid to the company I
on the shares held by him, on condition of his de-
claring
his acceptance of his proportion of the said shares
with fourteen days from the date of allotment, and paying
the first and subsequent instalments thereon, within one
calendar month after the dates at which they are revec-
tively made payable."
4." That such of the still shares u may not be roaecepted,
shall hi issued at the same rats of guaranteed dividend, to
those shareholders who shall have taken their fell propnr-
tioa of the said shares, and who shall, previous to the date
of payment of the first instalment, have applied for an addi.
tional number of said shares, and that rateably in proportion
to the number of guaranteed shares previously takt a by
them."

" That in the event 'of any of the said shares remaining
still unappropriated, they shall be disposed of for beboof of
the company on the same terms, but in such manner as the
directors shall tee B', or otherwise, on such terms, and at
such guaranteed rates of divid nd as the company at a future
meeting may determi..e, but is is provided that if the same
be issued at an in, retuvd rate of guaranteed dividend, they
shall be tint offered to such snarehelders as may have taken
up their previous allotments, rateably in proportion to the
number of guaranteed shares taken under allotments."
6. " That the said enaranteed dividend shall be payable
half-yearly. said dividend betin4 payable on each instalment
from the respective data at which they became due, and in
case any instalment on any of the said shares shall not be paid
on the day when due, interest at the rata of b per cent. per
annum shall be charged upon the instalment so in arrest
until paid; and so long as any instalment shall be in arrest
on any share, no dividend shall accrue thereon.
7. ' every holder of such guaranteed shares who
shall pay any or the whole et the instalments thereon in ad-'
vanes, shall be allowed discount at the rate of Si per cent.
per annum, satil the several instalments become due.
8. " That the directors be authorised to take such steps ss
they may deem necessary for obtaining payment of the
'seers' instalments, and for the forfeiture and disposal of any
sham, id respect of which the first or any subsequent in-
stalment shall not ba July paid.
9. " That so soon as the whole of the above 550,0001. shall
have b:en subscribed or taken, and one half thereof paid up,
the directors be authorised, in terms of the said set, to borrow
es saasigege, at suck raw of interest, and for such periods
as they Shhaillll think fir, as stem or sums of money not exceed-
' irg the sum of 183,3331. 6e. Bd., which the company by the
said set are authorised to borrow, in addition to the other
sums which the company are authorised to borrow by their
several acts."

The resoluticas were then agreed to, and the meeting
*emirate/a.

STATISTICS OP RAILWAYII.—A parliamentary return of
contiderable interest has recently been printed, from which
we have collected the subjoined particulate :—The number
of railways in the United Kingdom, at the close of ISIS, was
213. The total length for which these campmates bad ob-
tamed powers was 12,033 miles. Of this length 6,127 miles
had been opened fu traffic (via 761 miles of Lees and '
14,376 miles of double lines), 2,111 miles were in course of
e mstruction, and 4,791 miles wore authorised but bad not
hien commenced. The 'monist of above capital actuelly '
paid upon 31st of December.lB4B. was 166,608,6781. 6e. 11d. ;
ral•et by loans, 43,664,4801. 13a. Id ; m ,king a tots' of
200.173,0591. Of this sum there was raised in 1848
133,234,8181: via. by eapi al, 30,369,1021 61. 11d. ; and by
luau. 2,873,7151. 13s. Id. The unexhausted powers to raise
capital greeted in 1848 wen 17,660,1611. ; previously to
1648, 126,137,6121.6.. Id. ; making the total of unpaid
143,717.7731. 6.. Id. ; and the grand total of authorised
capital Ice the 213 compani a, 343,890,8321.6 x. Li.