The Express.
London, England, 1851-08-20 00:00:00

GREAT LUXEMBOURG RAILWAY.

Ye.tcrilay the half-yearly meeting of this company
was held at the offices in Royal Exchtinte-buildings, City.
Jams Masrrnstas, jun., Esq., took the chair, in tho
absenee of Sir Wm. Magnay, Hart., the chairman of the
company.
Ito- secretary read the report, which stattil that the go-
vernment has at last boldly come forward to their awistance,
acknowledging the necessity of the undertaking ns a great
international line, which will secure to Belgium a consi-
derable share of the immense goods traffic now dependent
upon the circuitous navigation of the Rhine, as well as effect
a jun. lion witlt Strasburg and the east of France. The
present ministry have taken a comprehensive view of rail-
ways existing in Europe, and having deeply studied the ,id-
vadraoes Pit' the line, have come to the conclusion that it is
the do-sided interest of the country to assist in the eonstrue-
lion of the Luxemburg railway, and that they will ho
amply compensated for any contribution which they may have
to make during the first few years of its existence, tpy the
accession which it will bring to the trade and commerce of
Belgium. The government have conceded to the company
the right to make the line from Brussels to Namur, and to
select the best and shortest line between the two points. The
• construction of this railway will at once confer value upon
• capitol already laid out on the tirst 10 miles of the line
out of Brussils, and the government have apportioned
200,t Mi. of the caution money for the purpose of reeommenc-
, ing those works during the present year. With respect tothe
line uniting Namur with Arbor sod Luxemburg, another
year is allowed her the more thorough study and 'preparation
of the plans awl sections. The directots feel sure that the
teethe on the line from Brussels to Namur, with f, celery
right and left, will yield a ',satisfactory return; but its full
value depends on its extension to France and Bcrnianv, and
this can only be obtained by the construction of th.c lino
originally designed to Arlon. The capital, when required
iu future years, will be raised under a government guaran-
tee of 1 per cent.; and the company have in hand, for (Ito
commencement of these works, a sum of 60,0 W. (caution
money), which will enable them to open the cattier sections
of this extension. With respect to the railway, the com-
pany will have, first, a continuous line of 3ii miles, comica-
-1 ing the ports of Antwerp and Ostend, US well as the capital,
with Namur, Liege, and tharleroy. With respect to the
canal, an expenditure of 90,0001. will open the most profit-
able part of the navigation, extending to the company's
valuable field of ironstone at Durbay. The bill to effict
all these important Ojects has been discussed at great
length during the past nortnient in the Belgian Chamber
of Deputies. This discussion has served to bring out in a
prominent manner the additional ianportance of the rail-
way, in (sum ohm with the plans in agitation for continu-
ing the line to the Adriatic, a shorter route to hulls hy
about 400 milli, and a mode of conveyance for the English
passengers and the mails exempt from the interruptions
which 'night occur in the present route through France.

The ter- of the convention with the mßelgian govern-
ment were laid on the table, and front which it appeared
that the Belgian government would give 4 per sent. upon
any future outlay for the construction of the line front
Namur to Arlon. Another point was that they agreed to
lease the caution money placed in their Lamb, on the
condition of its being appli al to the woks of the line in
equal proportions—that is, woe-fourth for the short line from
Brussels to Namur (but in which the company receives
nothing in the shape of guarantor) and three-lourths for
the long line from Namur to Arlon, which is guarantee,"
the I per riot. The government also release the canal,
making it independent of themselves ; this, the directors
exported, would prove a valuable nod paying branch
of the railway scheme. As to time, the company
were now allowed an additional five yt.irs to complete the
undertaking. They were also enabled to take upon them-
selves the works of the Louvain k la gunihre Company,
thus terminating the law suit between the Luxenthourg
company and the Belgian government. The estimated vest
of the short line was to lie taken at :00,1/90.1., and that of
the long fine at about 000,000/. As soon as the traffic
should pay 7 per tent., the government would deduct a pro-
portionate omit to repay them their guaranti e. The govern-
ment would give the land for nothing on their own line, and
would engage to use its influence with the communes to
grant the hind required for the purposes of the railway.
The CHAIRMAN urged the propriety of adopting the
terms of the convention agreed to by the Belgian Cham-
h ers. lie was happy to say that the government had at last
seen the important link which this line must fill up in tho
' chain of communication between the north of Europe and
the Adri .tie. In fact, he saw in its completion the erand
route to India by way of Ostend and Trieste, not that he
expected that the India mail would err repay a railway
company, but when he stated that the completion of the
proposed route would be a saving of 500 miles over that at
present adopted, he thought he was nut out in his calcula-
tion if he said that this line, when completed, would be a
most profitable undertaking. (Iliac, hear.)
After a short conversation, in which Mr. Anderton, Mr.
Ashwell, Mr. Worthington, and other honourable pro-
victors took part, two resolutions were proposed by the
chairman and unanimously agreed to The first of these
was to the effect that the meeting, approving of the conven-
Hun entered into on the 30th duce last between the directors
and the government, authorised the board to ratify tho
sante, and to accept, un behalf of the company, th..l bill
founded on that conveation, which was now passing through
the chambers. The second resolution appointed u com-
mittee of shareholders to act in conjunction with the board
of directors.

Vote. of thanks were passed to the president of the com-
pany and to the imird of directors, to the secretary, and to
the chairman fur his conduct in the chair ; after which the
meting separated.

PORTBURY PIER AND RAILWAY COMPANY.
The half-yearly general meeting was held at tho
White Lion, Bristol. P. W. Mites, Earn, M.P., ha the (hair.
Mr. Kuatip, of the firm of Osborne, Ward, and Co., *di-
citura to the company, read the following report In
accordance with the intimation given to the shareholders
in the report of the directors to the half-yearly ordinary
general meeting, held ou the twenty-ninth day of August,
18 ts, your directors have advertised the present meeting
for the purpose of the shareholders determining whether
application shall be made to the commissiunera of railways,
or other competent authority, that this undertaking may
be abandoned; and roar directors have caused a circular
letter to be sent to each shareholder, re nesting the signifi-
cation of his assent or dissent thereto. Your directors re-
commend the adoption of this course as the only one which
can effectually relieve the company front all responsibility.
Your directors have adopted the necessary mea,ures fur
obtaining payment of the arrears on the second call arid the
interest thereon, and since the 31st January, 1851, have ob-
itamed payment of such call on 1,150 shams."
Mr. KNAPP said the accounts showed a balance in hand
to the 31st of July, 1851, of 4,b961. Ifs. 10d. There had
been received since 31/. 6s. 10d., making the balance
4,930/. 18x thl. The aelliritor's bill of costs to the llst July
was 218/. 13, Bd., and the probable further receipts would
be 80/. 1.14., making is total asset of 4,783/. Supposing that
Mr. Clarke recovered his full claim of 4,'.611. 12s. Id., there
would then remain 1981. 7s. 11d. as the assets of the CUM-
piny, in addition to which they would have the value of
bir:Sydney's laud and of Mr. Clarke's land. The directors
were advised that Mr. Clarke would not succeed in sub-
stantiating his claim, and the directors recommended the
shareholders to resist it to the utmost. There were 2,024
shares on the registry, and if Mr. Clarke's claim could begot
rid of altogether, the balance, after payment of further ex-
' perms, would be returnable to the shareholders in the event
of the abandonment of the undertaking hieing sanctioned.
Assents to the application for abandonment had been sent in
previous to the meeting in respect ul 1,165 attires. Only
one shareholder had sent in a dissent. It would be the
duty of the shareholders, in order to comply with the pro-
visions of the Abandonment of Railways Act, to appoint
three scrutineers to ascertain the-number of assents and dis-
sents.
Mr. GIBBS asked what the probable expense of wind-
ing-up the company would be ? tle had heard that it would
be very great.
Mr. KNAPP said, no company having as yet bee is wound
up under the act, it was impossible to say, but he appre-
hended that it would not be very considerable.
Several shareholders expressed their wish that the com-
pany should be abandoned, and a resolution adopting the
report was passed, and scrutineers appointed, who reported
that 1,618 shares had assented, and two dissented front the

proposal.
The formal roolutions;to carry it into eff..et
sena con., and thanks having been voted to -oakum&
the meeting broke up.
t ',At
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