The Express.
London, England, 1846-12-05 00:00:00

THE EXPRESS, SATURDAY EVENING, DECEMBER 5, 1846.

Tire circumstances attending the obtaining the acts for the Bir-
mingham and Oxford line, and the Birmingham, Wolverhsrap:on,
and Dudley line [men the legislature, were leo recent to require say
detail on hispart. It had, however, been thought that an amalgams-
tam of both those hoes with the Great Waders Company woad, by
pacing the establishment under one direction, tend to increase the
n~mopqiee, and &drawn the interests of the Great Western Railway
bomplll7, by whose aid and assistance the *eta for the construction ol
those ailys ceived the etketof Parlament. The terms
which r
hadwa been bad
wereed upon between the three companies he con-
scientiously believed to be jug and equitable, and when the agree-
ment was read, he confidently !Mean it would receive the approval
of the proprietors now imeembled. He should mentiou that the over-
tures for an amalgamation of these important lines with the Greet
Western Railway Company hadnot emanated from the latter, though
the be
had declared that they were quite prepared to eceeive any
a procesi d that declaration was accompanied with the as
that he (the chairman) did not believe say obstacle would be
pterented in the way of effecting the amalgamation of the three lines.
A negotiation had consequently been opened, which had resulted in
the completion of the agreement now about to be submitted for the
adoption of the body of proprietors. As to the teems of that agree-
ment, it lad beers felt that there
beenwg for thinking them just,
equitable, and liberal. Had they otherwise, the directors of the
Great Western Railway Company would not have cemented to be
parties to them, und hence they bad no limitation in recommending
them for the adoption and confirmation of the body of proprietors
whose interests, with their own, were identical (Hear.) To show the
value and importance of the agreement which had been conchuled
he (the Chairman) need only state to the meeting the results of a com-
munication which had pawed between himself and the chairman of
the London and North-Western Railway Company on this subject,
not at toed eleventh, but Western twelfth bour. Mr. Glyn, the chairman
of the Lonon and North Railway, had directed to him (the
Clairman) a note which, though addressed privately, related exclu-
sively to public matters, and hence he (the Chairman) had no hesita-
tion in reading the letter to the present meeting. Mr. Glynis letter
was the effect aa follows : Eustou-square station. My dear
Rum to
en We have this day received a memorial from various parties
interested in the Birmingbam and Oxford Company, pressing the
Leaden and North-Western Company to come forward with some
proposition for an union of interests between the two bodies. I
enclose a copy of the answer returned to that memorial, from which
you will perceive the nature of the queetions raised and the mode
in which we propose to deal with them. As your booed meets to-
morrow, it may be desirable that a conference should take place
previous to the meeting of the Birmingham and Oxford Company„
The enclosure was to the effect (addressed without a name) : "I
have to acknowledge the receipt of a memorial, signed by you and
othen interested in the Birmingham and Oxford Railway ftimpany,
ma have received similar memorials from shareholders resident in
Lentashire, expressing dissatisfaction at the terms offered by the
Gnat Western Railway Company. We are prepared to unite with
the Great Western Company, in a joint lease- with the Birmingham
and Oxford Company ; and thus the public would have the advantage
of a line of communication fixed by the amalgamation of thltlnZer-
tive bodies." This letter was dated the Soil December, and by
the chairman of the directors of the London and North Western Rail-
way Company (Mr. G. C. Glyn). When he (the chairman) on a
bed of sickness received, only yesterday morning, that letter, be
could not for a moment entertain a doubt that its object was
In sow dimension, and, at the twelfth hour, to defeat the ar-
nagileisents which had been made with the Birmingham and Oxford
Company. (Ileac, hear.) At once he had written a reply to that
affect, and adding that the proposition as to a joint lease of the line
must be rejected, inasmuch as the bill having been adopted by parlia-
ment for the formation of an independent line from the London and
North Western ; the latter could not oak the legislature so f. ir to
stultify itself as to concede to their views. (Ilea, hear.)
That letter he (the chairman) was happy to say had met
with the approbation of his colleagues in the Board of Direction.
The intervention, however, of the London and North Western Rail-
way Company showed that they were ready to propose better terms
for the amalgurnatioa than them wkich had been effected by the
board over which he. (the chairman) had the honour to preside. (Ap-
plause.) After detailing with great exactness the objects for which
the special meeting had been assembled, the Chairman milled upon
Mr. Ward, the representative of the secretary
(Mr. Saunders), to read
the agree= nt in question. For the information of the numetheform rous
shareholders interested, we incorporate it in our report, in
it was communicated to the meeting " General terms of an agree-
waytered ,andtwen the Directors of the Great Western Rail-
wa Comminy the leirectore a the Birmingham and Oxford
Railway, and of the Birmingham, Wolverhampton, and Dudley
ailway Companies, for the purchase of the said two lines by the
Great Western Railway Company. The capital of the Birming-
ham. and Oxford, and Birmingham, Wolverhampton and Dudley
es, to be considered
Co amalgamated and taken at 1,700,000/.
=gt Western Railway Company agree to purchase the laid two
undertakings, by tbe payment of Ha. se. premium on each share of
;the
the atime premium to become payable within six months after the
ensletion and opening of the lines. The Great Western Railway Coma
psoyare to be subject to any liabilities necemary for the compkuon of
the said lines, and for the purchase of the Stradord-upon-Avon Crinal,
over and above the said capital. That, if the railways shall not Mee been
completed by the Ist January, 1050, the premium of 10/. sa. per share
shall be considered due co the let of July, 1850, to those proprietors
who have duly paid up the amount of their calls, and who have not
been in urea, at any time, for thice months—interest being
paid half-yearly, at the rate of five per cent. per annum,
on the said premium of 101. 55., ftom the said let July, 18M,
until the said premium shallbecome payable, as hereinbeture pro-
vided. The Great Weetern Railway Company may require the open-
ing of any portion of the line, previous to the completion of
um the
whole of the works being executed, in which case the premi of
101.5 e. shall become due and payable within six months after such
partial opening, in the same wanner as if the whole line had been
completed. Interest at the rate of five, instead of four percent. per
annum, to be allowed to the proprietors of the said company, upon
all calls duly paid during the construction of the lines, and, in respect
of any sums paid in anticipation of calla, interest at the rate of four
per cent. per annum shall be allowed eat so much as is advanced, until
shall have been called up, when live per cenL per annum will
become payable. Coupons to be given by the Great Western Railway
Company, when the 20/. per share shall have been paid up
or advanced, entitling the holder to the premium of 101. sa, and in-
terest upon the terms hereinbefore provided. That any further ca-
pital required for the purposes of the said companies, shall be pro-
Tided by the Great Waste
Railway Company, either by creation
of shares, or othervise, as may be sanctioned by parliament. The
Birmingham and Oxford, and Birmingham, Wolverhampton, and
Dudley Companies, are to be amalgamated, and powers taken for
laying the broods well as the narrow gauge thereon, and an ar-
rangement is to made for blending the Great Western board with
the directors of the amalgamated company, in such manner
an to give the Great Western Railway Company an effectual
control over the expenditure of the said undertakings."
The Chairman then proposed a resolution, which had for its object
the adoption and confirmation of the agreement.—Mr. E. Donn seconded
the motion.—Mr. Withers, after an elaborate detail of calculations, by
which he sought to show that the arrangement would be thjurions to
the proprietors of the Great Western Railway Company, moved as au
amendment " that the meeting be adjourned for a moth from this
day, in order to enable distant proprietors, by their proxica, or in per-
son, to express an opinion upon the proposition."—Mr. Sandford
H. the amendment, which wee supported by Mr. W. Williams,
M.P., who expressed his regret that lime pacificatory arrange-
ment had not been effected between thie company and its
two great rivalry the London and North-Western and the
South-Western Company. After a few words from Mr. Castles,
the Chairman
entered into a lung and spirited defence of the agree-
ment; and said he believed the line would be remunerative at the
price paid for it, especially as an avenue of traffic to their main
which
had been opened with the London and North Western Company, for
the purpose of coming to some amicable arrangement for the mutual
benefit of the two companies. The parties employed to negotiate
were Mr. Sounders, secretary to the Great Western Company, on the
one side, and Mr. Swift, one of the officers of the London and No
tion
rth
Western Company, on the other. The chief object of the negotia
was a district arrangement. When every other point had been agreed
upon, a dispute arose as to the gauge between Fenny-Compton and
Wolverhampton; the Great Western Company requiring that the
lines Mould be laid down with both the broad and the narrow gauge,
and the Londe and North Western insisting upon haring the narrow
only; and upon this point the negotiation broke off. They could
never consent to an arrangement by which both private and public I
good faith would he violated.—Mr. Maley supported the original
motion.—On the amendment being put, 17 or le bands were held up
in favour of it; the motion confirming the agreement was carried by
a large majority.—}D. Withers wished to know if he could enter a
mama the agreement with a view to further proceedings I
Ca chairman said he had no power of receiving a protest.—A resolu-
tion was then proposed and carried, "To ratify an agreement entered
into between the directors of the Great Western Railway Company
and the directors of the Wycombe Railway, and the Great Western
and Uxbridge Railway companies, for the purchase of the said two
last-mentioned undertakings; and to authorise the execution of all
proper deeds and the doing of all acts requiaite for com-
pleting such purchme, and for making application to Par-
t for powers to carry the same into effect."—A re-
solution was paved authorising the directors "to apply to Par-
liament, in the ensuing session, either separately or conjointly with
other companies or person% for powers to construct, or to lease, work,
or subscribe to the following railways :—I. A branch railway from
the Great Western Railway, at Acton, to the West London Railway,
with branches from the hat-mentioned railway to the South Western
Railway, near Lambeth, arid to Hammersmith. 2. A branch railway
from the Great Western Railway, at Acton, to Staines and Egham,
with branches to Brentford, Isleworth, and Twickenham. 3. A rail-
way from the Oxford and Rugby line of the Great Western Railway,
at or near Oxford, to the Great Western Railway in Cheltenham.
4. A railway from the Wilm, Somerset, and Weymouth Rail-
way, at Wilton, to the line of the raid company in the
parish of Compton, near Yeovil, with a branch to Gillingham; and
also from Bleadon, in the county of Somerset, to Biandford, in the
county of Dorset, with a branch to Glastonbury. 5. A railway from
the tt ills, Somerset, and M cymouth Railway, near Yeovil, and near
Bridport, to 'Exeter, with brandies te Sidmouth ; to Charmouth, near
Lyme; to liminster, and to Crewkerns. 6. An extension railway
from the Berke and Hants Railway, at Uungerford, to Devices, and
o Westbury; also, branches from the Great Western Railway at
Twa ford, to Henley, and from Newton St. doe to Radstock."
PROVlNCES.—BlitdiNodele AND OXFORD JUNCTION.
—An extraordinary meeting of the shareholders in this company was
held at the Royal liotel at Birminghsm yesterday, for the purpose of
considering the propriety of ratifying an agreement entered into by
the directors for the sale of the line to the Great Western Company.
The chair was taken by P. H. Munk., Eaq. The attendance Was very
large. Among them present we observed Lord Ilatherton, Mr. soun-
ders, secretary to the Great Western Company, Laurence Heyworth, '
Esq., of Liverpool, and nearly the whole of the directors of the com-
ony. Tbe chairman, having stated the object of the meeting, called
pon the secretary to read the terms of the agreement, which the direc-
tors had entered into for the sale of the has to the Great Western.
The terms of the agreement were simply these I. The capital of the
company, when united to the Birmingham, Wolvermpton, and
Dudley Company, to be L 700,0001. 2. he Great Western to pay
101. Is. premium for every 201. share; payable within WI months after
the completionof the line. 3. If the line be not made before the let I
of January, 1550, the premium to be due on the let of July, 11150 ; and
if not paid then, to earn intense et the rate of 5 per mat—
t. Fire per cent. interest to be allowed IN oath duly paid. Four pet
cent. interest on calls by anticipsdath—fr. The Great 'Western to pro-
vide any additional capital that asp to requital-6. The Great
Western to have the effectusleentral stem management of the funds.
—The chairman said the terns al the agreweent were such as would,
be had no doubt, prove athenaeums to the shareholders and Irene-
finial to the public. They bad eolith the lot of January 1850, as
the time when the line WWII in 110ini Of fact, it
would be opened long theme licat tairwiaidialdfar Will that day_ entered
into contracts for the era el the
it eeepeallsa of whith would
be completed withha sithdesal,thil the ether within sixteen, months
from the present tithe; Be alt that it vas bis duty also to bring
under their notice • ellnagianfinftne that lei dim Mem between Mr
George Carr Glleardelnan of the Lefties awl Xorth Western, and
Mr. Charles Rum cart:man of the Grist Wm= cm the subject of
the present sale. ecirrespondence conekted al 1) a letter from
Mr. Glyn to Mr. Russell, Mang that be had armorial from
a numoer of shareholders of the Birmingham mil Ousted Junction,
requesting to know if something Winn ad be done in order
to effect a joint purchase of the His lir the Great Western
and Landau and North-Western, on tenth thatemily advantageous, I
and pummeling_ that ecederenee Wet be laid on the subject.
2. The reify of Mr. Russell, 'abide dm fs tbe abet that after the con-
terraces dia had already tam plate Taal's, to a mutual under-
sthaifttel each other's interests. may oothareace on the subject of
the thle of the Hinthestalth ma Oxford Junction would be fruit-
leee—lier. Mate dieselledeed die conduct of the directors of the
Latham eel liorth-Wthatha Omesed La this muter as very direre
,edeol!‘ mil dee drenmee of die threat Wedeln was entitled to
thdr vaswas for middy the dive des at the Birmingham and Oxford
fully ~I 1/1 whet hei bees =if on. Be need only further say
that the geemat lite projected solely with • view to
teasel dee Paisley Pet die London and North-We stern in
beewbfat ammealdes, directors would have compromised the
_latmede, leg diddled themselves, had they listened to any
,[haltine ken that warts:. He begged to move that the agree-
ment be emdmeed•—lameese Unearth, Esq., seconded the motioa.
He rewhithed Intend= sad Korth-Western and the Great Western
the two greet arteries In the railway world, sad that parliament
should regulatethe fares. In the present ease it was clear that the
Birmingham and Oxford line should be united to the Great
Western,, and that the interests of all parties would thus be
well served.—Mr. Turner moved as an amendment that the
meeting be adjourned to the 14th of Jemmy next He contended
that this was necassry, in coasemence of the certifiretes of shares
not having yet been issued, and argued that, ere this aceount, the
present meetang
_did not really represent the shareholders of the
oompany.—thr. Moreley, of Liverpool, in the course of • long Beseech,
Contended that the line had been completely threwn away. EDO held

MONEY MARKET..
.[ EVENING,
The funds were flat during the early part of the
morning, but without any alteration from the prices of yes-
terday. A short time before the hour of closing arrived
there came, however, a little stir in the market, upon which
Consols improved a shade, and left off 951 for money, and
9,51 buyers for account. Reduced Threes, 94 to 1. Three-and-
a-Quarter per Cents , 96 to 1. The government broker took
15,0001. Three-and-a-Quarter per Cents. for the savings
banks, and 1,2001. old South Sea Annuities at 931 for reduc-
tion of the national debt. Exchequer Bills, 7s. to 10s.
premium. India Bonds, 17s. to 20s. premium. Bank
Stock, 206/ to 71. India Stock, 258 to 60. Long Annuities,
91 to 15-16.
Foreign stocks attracted some attention is-day. The ac-
counts from Amsterdam and Brussels for the last two or
three days of the animated transactions in S
npathinishart
m s
Fives was
bonds
on them exchanges, made no impression upoke
until to-day, when a disposition to speculate in the
manifested in same quarters, upon which a slight movement
upwards in that class of stock took place. The prices became
261 to it and so left off; the Threes, remained 371 to 1.
Portuguese were quoted rather higher also, at 39 to 40.
New Grenada, 181 to 191 ; the Deferred, 31 to 1. Mexican,
221 to 1. Dutch Two,and-a-Half per Cents., 591 to 601 ; the
Fours, 911 to 21.
Foreign exche was again lower to-day on the chief
continental placeangs. On Amsterdam the rates negotiated
were 12.3 to 1 ; on Rotterdam, 12.31 to 3 ; on Antwerp,
25.821 to 871; on Hamburg, 13.11 to 101 ; on Frankfort,
1201 to 1 ; on Paris, 25.771 to 821; on Vienna, 10.3 to 4
Madrid, ;
on Leghorn, 30 45 to 50 ; on Naples, 401 to 1; on
351 to 36 ; all at three months. On Lisbon, at sixty days,
53 to 1. On reference to the quotations of Dutth
Bonds for some weeks past, it will be observed that
they have been on the advance, whilst contemporaneously,
though not pro rata, exchange on Holland has been de-
clining. But for the sort of currency of
o f Dutch bonise
ds
which combine in fact the reques both merchand
and currency of exchange, the rates of bill exchange would
certainly have fallen much more. The bonds constitute an
article of every-day traffic and transfer between Amsterdam
and London, as the rates of exchange vary, or the prices of
bonds rise and fall. Thus, since exchange has been on the
decline, Dutch bonds have come more into request as
values for remittance. The merchant who has to remit
will prefer to do it in bonds which shall realise a fraction of
a gilder more in Amsterdam, than wha out ill on that city
purchased at theruling quotations here w yield.
If trade balances and exchange operations could be liqui-
dated or checked with other or betwat all countries by tho
intromission of similar instruments of paper values
representing national debt, and, according to intrinsic
worth or public opinion, national credit also, the fluctuations
of exchange might come to be of little consequence to
would the
internal paper circulation of any country. There be so
much the less necessity for the passage of gold or silver from
one country to another at any time ; in ordinary times
scarcely any at all. In the family of nations, and intercom-
munity of confidence suppoeed, as in the cue between Hol-
land and this country, remittances might be as readily. made
to, or received from, France, Spain, Germany, Russia, the
United States, &c., in the bonds or securities of the respec-
tive countries, or of the bonds, when preferable from price,
of one country held in another embraced in the credit
circle, as in bills of exchange, or in metallic money, and
generally with advantage. It would be the same sort of
operation after ell
as is performed in commerce
daily with respect to merchandise. The merchant of
the 'United States, for example, having to face payments,
lor make provision for purchases, in Europe, consults his ad-
vices and prices current for the purpom of calculating whe-
ther cotton, tobacco, bread stuffs, &c., would be the most
sure and profitable medium of realising values in the place
required, or elsewere to be drawn against. Assuming that
he was possessed of Consols, Frenchßentm, Dutch Bonds,
&c., his facilities of remittance would be enlarged, and
therefore the economy of his operations simplified. Such a
system of general mutual confidence could only be possible
with a peace of long endurance, which, on thebe first breath
en to
of war, or distant prospect of it, must at once shak
its foundations. But it is curious to reflect with how little
care about gold or silver, or the absolute necessity of em-
ploying them in the great bulk of internationacarriedl transactMns,
the commerce of the civilised world might be on.
ENGLISII FUNDS.
Bank Stock, Al India Bonds, under 1,0001., 17
3 per Ct. Red. Anna., 94131 4 South Sea Old Annuities, 93a
3 per Ct. Consols, Anne., 951 1 i Consols for Account, 9311 1
9 per Ct. Annuities, 1726, 941 1 Exchequer Bills, £l,OOO, lid., 710
New 31 per Ct. Anna., 96 51 G Ditto 5001., 7tO
Long /inns., exp. sth lan., 11160„ Ditto small, 6 10
9 15-16 I
FOREIGN FUNDS.
1 per Ct. Grenada Bonds, 191 per Ct. Spanish Aoct.,
Ditto Deferresl Ilse. 16, 26;
5 per Ct. Mexican, 416, 221 Ditto, Passiw,sl 1
4 per Cent. Portuguese Bonds, per Ct. Spanish Bonds, Acct.,
391
Dee. 16, 37i a
Ditto, Lt., 391 1 81 14 per Ct. Dutch Certificates, 92i

.RAILWAY NEWS.
The market was not so firm yesterday, although
prices varied little. East Lincolns, Shrewsbury and Bir
mingbams, and Shropshire Unions were in favour. But
Indians were a shade better ; but on the whole the transac-
dont were not of importance, and there was an indisposition
in dealers to adventure.
The business at Birmingham was steady, and prices on the
whole were firm.
At Leeds, yesterday, the share-market appeared a little
brisker ; more business was transacted, prices holding firm,
but having no tendency to advance.
The Bristol market has been buoyant, and good securities
in demand, particularly Midlands. The dosing prices are :
Bristol and Exeter (old),791; ditto (thirds), 81 ; Great West-
ern (1), 191 ; ditto (new), 71 and 1; Midlands, 131 ; ditto
(401. shares), 331 ; North Staffords, 81. 18s. 9d.; Shrewsbury
and Birmingham, 51 ; York and North Midland, Selby, 771 ;
Bristol Water-works, 41.
Of the Edinburgh market the monthly circular of the
Messrs. Allan gives a favourable report. There was a large
and steady business in all November. A great deal of Scotch
railway stock has been taken for investment: the eagerness of
the two great English railway companies to obtain a sway in
the direction of the principal Scotch lines has led to an advance
in nearly all .notations. This rise in prices the Messrs.
Allan, whose Judgment is deservedly rated high, believe to
be " legitimately accounted for." The following intimation
is appended by Messrs. Allan to their circular :—" Our
Edinburgh Stock Exchange has now adopted the system of
settlements twice a month, on the same plan, and on the same
days as in London. Parties, therefore, dealing with Edin-
burgh, must in future keep this in view ; for when the set-
tlement day comes, if the purchaser has not previously pro-
vided his broker with the funds, or the seller is not prepared
to deliver his stock, an immediate selling out or buying in is
the consequence, and the result almost invariably a serious

Foes .'; -
LONDON.—BaisSOL AND POOLE HAEBOUR.—
4th ThDecem-
e fol-
lowing letter, dated at this Company's offices, in the city,
ber, has been forwarded to us for publication t It haring been
publicly reported that it was not the intention of this company to go to
parliament this year, I beg, through the medium of your Journal, to
deny meet distinctly the correctness of such report, and enure those
prunes who ole interested in the undertaking that nothing will be
wanting on the pint of this company to obtain their bill in the next
msks. a
reThho of the plans have been regularly deposited, and
the notices a now being am, sir, your very obedient
servant, 11.2rasmoic,
GREAT WISTEIN RAILWAY.— Yesterday, a special
general meeting of proprietors was held at the Paddington station to
transact business, and obtain a deciaion of the pro rietors as to oer-
, tain schemes to be submitted by the directors to mit in the
course of the ensuing session. C. Ilium% Esq., M.P„ (the chairman,)
opened the proceedings oldie day in a speech of cdmatile length,
which conveyed to the proprietors the fullest hiformatim as to the
I whole proceedings which had been taken by the directors with re-
krame to the why otdecta Ice 'which the meeting bad been called.

-------
in his hand a letter i'mai Mr. George Carr Glyn, in answer to In !
application from himself (Mr. IL), to know what the London and
North Western were prepared to give for the line. The terms of 1
that letter be would state to the meetiog. The question having been
pleas
re the London and North-Westeni would give. he bad the
pleasure of saying ',reading the letter) that they would give 121.
premium for every 201. share, 31. payable on the pawing of the act,
hi. three months after, and the balatiocsix months after the opening of
the line.—A very desultory disci/talon ensued on these motions; the one ,
mxty contending that the proceedings of the directors of the company
bad been straightforward and open—the registration having been
open up to whet an hour of the present meeting. The other, that
the delay of the certificate. wee quite a dodge, to prevent shareholders
who bad recently purelissed from taking their stnod as certified and
registered proprietors modified to vote at the meeting. In the course
of thiS di and oontroventy, Mr. Moreley and others argued
that the majority of the shareholders were oppoeed to the sale, and
held shares but had not got certificates, and, therefore, could not
vote, while Lord ffatherton hudnted that as there had been 20,000
proxies lodged in favour of the sale, and not one bad been lodged
against it, the conclusion clearly was that the majority of shareholders
were in favour of the agreement. The vote was then taken, and the
motion sanctioning the agreement was carried by 21 to 12. linlority
9. An amendment that IV. premium per rhare should be asked from
the Great Western sus not put to the meeting, being informal. There
were several protests on legal grounds entered against these votes,
, but the feeling of the meeting was strongly in favour of the sale.
BIBNINOBANI, WOLVERHAMMON, AND DODLEY.—A
foreting oftOHAM,
the shareholders in this undertaking was also held, nnd
a similar
of to that of the Oxford Junction, viz., the ratifi-
cation of a deed of sale to the Great Western Company. William
Matthews,
re She the chairman of the company, presided. The terms
of the sale were declared to be the name as thooe of the company junt
wood; and the meeting unanimously resolved to approve of the

agr...enient.
extraontnslllloP.73llll::,,tiUngNloOftethite
itharesiiiwbogide.V.- (rnythi.Exwpruiessp..);..A.n
held at the Lion Hotel, Shrewsbury, yeeterday, for the purpose of
the
Caperer"idateringliDepaOtradiltrmayin"areanalsrelativwehiwchtheome extiPedituteentloyfrnlea'jenting_to
thondhe
iron atnNaorththseße.'enmtepanrn Cooly,
pmpiu:4. reThecrepohtmliozmalAribryowa,m.
Cowan, the secretary, stated inter alms that it was proposed te cm-
the works with as little delay se possible; that the branch (rem
Shrewsbury to Stafford would be first made, and that it was antici-
pated they would be prepared to let the line in a month. That the
line between Shrewsbury and Wellington, which is pa
of this Ithe,
isjointly vested by this act in this company and theorks Shr wsburyuted
, Mire
mingbane and M olverhampton Company, the w to be exec
under the direction of a joint committee. And it went on to
Union
"The terms uponewhich it is proposed to lease the Shrohire
to the London and North-Western Company are, that that company
aball guarantee to thin a rent which will give a per centage uponthem
outlay (including the canal capital) equal to one-half of the per
centage divided upon the capital stock of the London and
North-Western Company, from time to time, such rent to
commence as the several lines of railway shall be completed. All sur- _.u..
plus profits, until they amount to six per cent., tobelong to the shrop- r•
dabirewedUnb•eiontwateenmuibipanyernid tifte.; slcethreceunt..luconhaLtrotistrtlbemeqeesteualg 2°,1., ArinzbeTe_°°•l2olt2.:..° k
Dudley.
Company." The • 'Union proprietors to receive in the "e
the London and North Western " s
neonwtlere.pai.dt-up capital; and to participate !o,°, Binningb•Do. New 1°(,22.(1°17.Wdr),
I, Mafia alltimefutureigurcreagertioncesnoti
Company in proportion to the amount of their capital. , The works; 2 Bin" Oxford June-
toomibe exteteecu,ted,coniainmiggd the undertaking
adneegretaiingnummanabergedof
thunedarer thedeordfecof titre oftwoa 1 Brietm...., ,„.,1.„74,,81et,..:1...-
companies. The report in conclusion declared that whilst the direc- fee Yeeeeeerneeeeeee'`'.,,
tors were satedied the batik of the district would yield a profitable Cie geeeee=""'""
return on the capital required for the construction of the Imes, still ere ""S'..."riLn.,
in regard to new railway underudange a guarantee by
ilee=ud not but be aware that in the present state of the public
2 Churnet and elythea
a powerful company of a certain profit would be more ac. 2 (.37,..2ee,
oepprotautblbey t0...ti1e.,2;4,' Chester and Holyheae
tic.lipaketiointobolef
chairman ti
Go. 4.,,,,,
24 Direct Northern
in the course of his speech observed that during the progress of
proprietors
thlice indethanpendetbentlsyn.
12 Dublin 4 Belfast ha.
their bill through parliament he believed that every object which .. Eastern Counties
seemed to them material had been attained; and that as won as the te
I 1)0. New
act received the Royal ascent, they thought it best, if possible, at once e re,. v„,,. e.„
to connect themselves with some powerful company. Negotiations .1 ere eeeee`,e,„„,
were accordingly opened with the I.ondan and North Western. The ee '''"'eeeeee. eee'"'"
shareholders could not but be aware that iu these days mere specu- e a'. *.'erw' (late Pr.
lation railways were not so acceptable tette, public, nor to proprietors, • Orin
as those which had a conuexion with some old company ; there was , , e,„, , „....,...,.._
not that degree of certainty felt; and, although he had no doubt but 2.1 .;.I.2•7erne'"="'"
that the Shropshire Union could have taken care of itself, he felt ron- ••
50 Ede, berge&G
Went that by 'cueing it to the London and North Western, their line
would be more popular with themselves and the public. Iles Loa p 2 Do. i shares
entered into some detailed explorations, Pluming the advantages of
12 ißdirib. and Northern!
the contemplated arrangement, adverted, In conclusion, to the purpose , e.,_ e „,e„,,_„..„ ,
data 10 Lio.l shares
el the director. to apply to parliament neat session for powers to (e eerleeee'reeereeeeee ,
make a line of railway from Shrewsbury to Worcester, which would„e_ ee= eseeeee see. 7„;
be believed, confer additional advantage on the sharcholdele in this er 5ea.7,,,.Z.1. et!:
company.-A resolution having lien adopted to print the report, Lord e(
I,e4Gt. North of Erg
I
Powis next moved one to the effect that the shareholders approved al . 1 „e. e,_
the arrangement with the London and North Western, and autho- 2 .4.1. -Jr_
...
rishm the directors to apply to parliament next session for power to I?, ro.iiew"
aro ft out-Tnia was carried unanimously, with the exception of IS
85 Great Western
Mr sikareholder,e.Mr. Brett, whoeetakcoaultlchnie net baelholeeptien, onto thete 20 Do. tth...2
Heat
; but Lordtraordinary l
Pogwis replied that the point had 10 P°.,.: •har°•• I
been already raised in committee, and that Mr. Parker, the corn- 2121 17,2*. New
pony rolicitor, had no doubt whatever of the legalil 13 Huddersfield, M
of the meeting, even under the eircumetanees out of whic e Go. Eriensio ,
the objection had been taken. A resolution was next propreed •
to 90 Midland Se/by... .
I and unanimously carrell, authorising the directors to apply '
patliament for power to make the line from Worcester to Shrews- 25
Wry • and in reply to a question) from Mr. Joseph Wheatley it Wati 124 Do. i shares
Do. i shares
I
t stated that the company would aply independently for that line ury St. NW
; but 114 w• kB .
that if it was obtained it. would come into the lease to the London and 2.4 lii' Ne.°t,... Dohs_'
, North Western. The various resolutions were moved by Mr. al 1,07r,4-...---,....
' Vareone ; Mr. Tootal, of Manchester ; Mr. Holyoke, &c., and the •
I pureness if the meeting having terminated, Lord Power said the N._ Leeda....._.etei Bradford
directors were prepared to answer any questions the shareholders iil e•ree'e. Vt( Blink.
might think proper to put to them ; upon which Mr. Brett observed _e„ 1.21.72,',;;;2., mock.
1 that there were several he should have liked to ask with reference to 11
the canals, but at that time he thought it best not to moot them. The Do. do.Br.sh.(Rheo)
Do.doßrten (Green)
therein of the meeting were then voted to Lord Pow's, and the proceed. 22a Leicester 4 Berard-
ingB terminated. Lord Clive was present at the meeting, and the 22. L
amount of capital in the concern represented at it was very considerable. ewes' .4-Birmingham)
2 Lis. Man. &N. June. !
ARBERGATE, NOTTINGHAM, AND EOriTON AND EASTERN let London. ithrek,tai I
, Jteseriox.-A special general meeting of shareholders was held at 3 ito. New,
Nottingham yestercLay W. F. N. Norton, Esq., iu the chair. The so Lond. Brighton, S.Co L
first motion moved and carried was for affixing the company'. seal to 40 Do. Do. Fifths l'
the register of shareholders. The next resolution moved by the 9 Dodeo.Ginten 5 „.e ,
chairman wee-. That the chairman is authorised to affix the seal of 134 London & Geeenteieel.
the Ambergate, Nottinam, and Boeton, and Eastern Junction 14 DO. Preference
Railway Company to a deed, for the purpose of relearlng Messrs. John 100 London &N. Western
Ellis, George Byng Paget, and John Taylor, from the covenants 3 Do. 4 An,
entered into when they respectively signed the subscription contract, 3 Do. New ammo_ I
and to return the amount of delimit paid by them an the 2 Do. Foha
shares for which they so subscribed. ' The motion was lei Eighths 1G ,
seconded, but before it was put the information contained in the fol. 5 Do. iv. i sh. c •
lowing conversation wee elicited by a runnise lire of interrogatories:- g D0.401.5h., L. 4 M.
Mr. Ironside thought a little information would be requisite, as the 41i London &S. Western .
bargain with the Midland Company was about to be at an end. In 40 Do. New Cons. 49
the report which bad been published by the directors of the Amber- 224 Do. New 271 f e.n.
gate Cbmpany, it was stated the Midland Company had %ern eel to take is Do. New 3 6.. a. 1
ten thousand thane, and now it appeared they declined accepting 3 Do. Tenths 5
them. In their account, the Ambergete Company had debited them. 4 Do. Tenths 4 .
selves with 5,000/. received from the Midland Company-The Chair- 3 Do. scrip 5
man : With 5,000/. deposit.-Mr. Ironside wished then to know It London and York 4 . par.
whether, as he supposed the Ambergate Comp.any had duly considered De. Reeeneion
the subject, it was intended to release the Milliturds, or to return to
them the whole of that deposit, without deducting anything for ex. Tunic for sventenva Welate end
1845 and 1846. (Prose t,
'-The Chairman, In reply,said no part of the arrangements
Marren carried on under the direction of the Midland Corn. 1 1846. 1845.
piny, and as they had not had any shares, allotted to them, the Areente & new _ ER
ftvetors of the Ambergate Company were of opinion, tueder Cherlee h Birken ... - 5661
all the eirc•umstaneen, that it would only be equitable and right to Dublin & Drogh 8613 652,
return the whole of the deposit.-Mr. Irovudde : But their names Dublin feleingetown 11l 997'
I are on the deed.-The Chairman : W hen the release is granted to Dundee & Arbroath 34. 322
, them, of course their names will be taken off. If I can explain It in Durban, & Sunder. 67(
any other manner to Sou, I shall be happy. The fact won, that in Ease Lancashire ... 674 -
carrying out the amalgamation with the Grand Union, a difficulty Eastern Counties... 8065 611
arose in making arrangements, and us the Ambergate Company were Eastern Union . ....
on good terms with the Midland, and he (the chairman) was on good Edinr. & Glasgow 3272
terms with Mr. nucleon, he at once, seeing the circumstances on Gies- Paid. & Ayr 21
behalf of hie company, consented to take a return of the deposit. The Gies. raise &Grn. 807
number of shares to be allotted to the Grand Union would not per- Gt.Southn.&Wcstn 892
mit ten thousand shares, as proposed to be allotted to the Midland Great Western 15,027 16,i
Company, without a fresh act to enable the company to raise Hneeepeni - -
additional capital ; and therefore, to facilitate these arrangements and Lon la N. Western 34,26 34,274
to meet this difficulty, Mr. Hudson gave up the 10,00 e shares; then, Do. & eineewidi
of coulee, the deposit must be returned. Subsequently an arrange.
went eau made that four miles of the line from Nottingham to Bul- BUSINESS OF THE ENSUING WEEK.
well shold be Made at the joint expense of the Ambergate and the (From the Railway Chronicle.)
Midland Co
the precise ground to be taken had not yet been MEETINGS.
eettled. Me would assure the meeting drat the meet friendly feelieg 8,
Union-Dec.ls, Ipswich; Ipswich and Bury St. Edirne._
existed between the
nmbergat sod the Midland Company, and that Dec. 8, Ipseich ; London and North-Western-Dec. 10, Euston-
everything had bee done in the most amicable manner.-51 r. Iron- station; Sligo and Shannon-Dec. 9, London.
side : Then an amicable feeling exists at present-The Chairman: DIVIDENDS.
Certainly. I was with Mr. Hudson when he the agreement in Esetern Countice-naleyear's inteiest on new 1 11. lfie. shares ;
London.-A Shareholder :Is any part of th veto be made by the Edinburgh and Northern-4 per cent. per annum on the 101. paid on
Midland Company ? -The Chairman said be had explained about the the 24 Mures ; Newry and Enniskillen-4 per cent. per annum on
four miles to Bidwell as far as at present arranged, but everything the deposits, and calls ; West Cornwall-5 per cent.. per annum on
wan not entirely mottled, as the terms were not strictly agreed money paid in advance of calls.
upon, though an agreement was made, there were some matter", of CALLS.
detail to be concluded. Mr. W. E. Moueley said, the arrangement to Aberdeen-5/. Dec. 10; Belfast and Ballymena-2/. 10s.,
due;
return the depute was made by the Midland Company to assist the Colchester Stour Valley, Sudbury, and Haletead-21. les.
Ambergute, and as the contract upon which the deposit had been paid Dieppe and Fecamp-21. Dec. 10 ; Enfield and Edmonton-li. Ites.,
had been given up, of course the whole of the money ought to be due • Glasgow, Dumfries, and Carlisle-2f. 10s. due; Glasgow, Pais.
returned; on that ground he had seconded the motion.-'Mr. Iron. ley,' Kilmarnock, and Ayr-51. on the 40/. shame, due; Great
side said he had not risen toad( questions to throw obstacles in the Grimsby and Sheffield-sf. on original 201. shares, due ; Lancaster
way, but, being a lover of justice and equity, and having heard that
the directors were going to return the money, without deducting any- and Preston Junction-11. 6s. on the quarter shares, due; Lowestoft
Railway and Harbour-21. Dec. 10 ; Norfolk-21. on new 10/. shares,
thing for expo:Des, he wished to have the matter explained.-The due; North Staffordshire-21. lira., due; North-Western-11. Be.,
chairman said, it was the opinion of the directors that such a course due; Northern and Eastern-51., due; Scottish Central -21. les.
ought to be adopted. Ile asked to know if any other shareholder
wished to put any other question? The Ambergute Company Dec. 11; Stirling and Dunfermline-11. Per. due; Wilts, Somerset,
and Weymouth-S/. due.
had agreed with the Nottingham. and Grantham Canal Corn.
panics to take to their shares in the canals, after a Der- SIGNATURE OF PARTIAMENTARY CONTRACT.
min time, and to allot their shares in return at par. Leeds, Wakefield, and Midland Junction-At Ulcerate, Dec. 5; at
After making arrangements with the Grand Union, the Ambergate London, Dec. 7; at null, Dee. 8; at Manchester, Dec. 9.
found they bad only 4,500 shares left ; therefore, Low could they carry South Yorkshire, Doncaster, and Goole-At Liverpool, Dec. 7; at
out their contract with the Midland, and let them have 10,000 shares! Manchester, Dec. 8; at Sheffield, Dec. 9 and 10; at Wakefield. Ike. 11;
It therefore became neceessuy, if the amalgamation were to be care. at Doncaster, Dec. 12; at London, between Dec. 14 and 19, both days
eldest to the up the contract with the Midland Co
Share. inclusive. TRANSFER BOONS CLOSED.
holder :Is th any time I,pecified for allotting ahares to the Canal Aberdeen-Till Dec. 10.
Com espy 1- ' replied, on the intimation of Mr. E.
Percy, solicitor to the Canal Company, that there was, and it was
3 =Mlle alter the opening of the line from Ambergate to Grantham.
-In reply to a question, the chairman said the profits of the canal
would go to its present proprieties until the purchase was completed.
The motion having been put and carried, an explanation was then
given, at the request of Mt. Ironside, of the circumstances attending
a false announcement of an arrangement with the Lantern Counties
Company, which had been published by some parties undiscovered.
After that, in reply to another question, Mr. Hannay said he had not
the slightest hesitation in stating that this company was applied to by
the Eaetern Counties company, to enter into a negotiation with a view
to an arrangement. In the course of an interview, matters took this
turn : They (the deputation) wished to know, in the first place, what
the Eastern Counties Company wanted. The reply was, that they
would treat with them in the way of sale. They then requested
Mr. Hudson to sae what he thought the line was worth. He
said he thought 20/. a share, giving them 3/. 12s. 6d. for that
which bad coot the Ambergate sharebolders 2/. 12e. 6d. The deputa-
tion retired and considered this proposition, and ultimately informer]
the Eastern Counties Company that they would lay it before their
board in Nottingham. It was, however, rejected. They then pin-
to the Eastern Counties that they Mould have their (the Am-
bergate) line at live per cent. in perpetuity, showing the shareholders
Ulf the profits in addition; ante another proposition was that both
should throw their lines into the Great Northern Extension scheme.
The Eastern Counties, Company objected to these proposal', but ex-
pressed themselves willing to lease the Ambergate line at 4 or 44 per
cent., but the per centage was only named, not offered. They (the
deputation) said they had a decided objection to sell their line, and
would not take 20s. per chore premium; they were not so base, they
were not so far willing to betray the undertaking, as to sell it for
such a sum.-Mr Donside eaid, baring got that question so far
answered satisfactorily. he would now put another. ne should like
to know the nature of the arrangement with the Great Northern
Company.-Mr. Hannay replied that he was one of the deputation
also that waited upon the Great Northern Company, in obedience
to their request. Mr. Wyles and Mr. Blithe') were emaciated with
him. I hat company proposed to ere them eve per tent it
upon the capital invested in their scheme, providing they
(the Arnerpte Company) would give them the option of deviating
the line in certain place*, and of diverting their own so as to circum-
scribe their capital. Incase they would consent to this, the Eastern
CountlesCompany would give them five per cent until two years after
the opening of their own line, and then let them go In at par, even if
the Eastern Countless' shares were welling at twenty shillings pre-
mium. The deputation came back to consult the board, and then
returned, saying that the Ambergate directors were not unanimous
re„peeting the acceptance of live per cent., consequently they
thought they ought to have five and a half until two year% after the
opening of the line, and thentterser cent. in perpetuity.pu He closed
on thoee terms, and in the of a week er interview
to decide upon the deviatinna They (the deputation) managed very
well untilthey got to Grantham from Ambergatc, but they, to their
surprise, found that the Great Northern directors had annihilated
the We from Grantham to Holston. Here they broke off at owe, an
they could not, untie:. such circumstance., redeem their promises
made to parties residing in districts through which their line was
intended to pars: Mr. lronside expressed highly eatisfied with these
explanations, and advised the directors to improve their under-
taking, if practicable, by allying. themselves to some cam.
pony that watt paying a good interest to its shareholders
ham what be knew of Sir. Hudson, it was his opinion that

i
It7i I
121 IP.
{ 34 3
:;*

:-4-5617.
.38 40p.
.18 19p.
7 49p.

as
i
111
14 21). 31
107 109 24
1111
110 1
0121 2fli
11
1111 1
1.4 I 1

75t
.16i 2 162
Ai
• 5
P
pied.

12
rB4 8 4 1
13 Ir.
11
5. O

14.
1411 p.

iss 5

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117

!!!4 c.DI

4 Luxembourg
lc Namur and Lima
10 Orleans and Vierson
6 Orleans & Bordeaux le
5 Parie & Lyons
20 Paris and Orleans-
-20 Paris and Rouen 34
5 Paris 4-Strasbourg ll 0,
20 Rouen and Ilarre 2511
10 Sambre and Meuse
5 Tours 4. Nantes I 04d.
6 Wed Flanders 3 3
ling between Nov. 20 and Dec. I,
he Railway Chroniek.)
1846. 18'
Lon., Brighton, &c.l £6264
Do. &S. Weetern...l 4964
Munch. 31 Leeds .. 7704
Midland ..
Newt. and Berwick 5161
Newcastle&Carlisle 20751
Norfolk
North British ....
Preston & Wyre
Shettield & Mane ).
South Devon

Taft Yale I iih
Ulster 760
York and Newcaatlel 5196
York &N. Midland, 5344

COMMERCIAL AND MARKETS.
PRODUCE.—MINCINO-LANE, Ds.e. 4.—Sugar The market has
been extremely dull and depressed today, and although importers
were willing to submit to a reduction of 1,., buyer, were not found
for scarcely half the quantity offered in the pubhc sales, which con-
sisted of 3,000 bags Mauritius, 4,300 bags Bengal, and 100 Wads.
Harbadoes ; the latter, however, being of a quality peculiarly suited
to the grocers, sold steady, 41s. to 51s. Refined boa also been dull
and inactive, brown lumps 625., standard quality 69a. The operations
of the weekhate been under the general average, and a decline of Is.
on West India, and Is. 6d. upon other descriptions, has been estab-
lished upon the extreme rates of last week.—Coffee: The public sales
of plantation Ceylon, 2,300 bags, went off irregularly, and nearly halt
the quantity bought in to sustain prices. Saltpetre : Madras, of good
quality, sold in public sale at full pricen, refraction 74 to 91, 255. Cal.
to 265. 6d.—Cotton continues in good demand at yesterday's priers ;
1,500 tales sold.—Rice dull.—The public sale of 90 bags Cochineal
went off heavily, and pert only sold. a shade under previous rates--
Honduras Silver 4s. 10d. to ss. sd.—Tallow dull, 475. 9.l.—Logwood
2.5 tows tit. Domingo bought in, t 5. - Sago 400 boxes pearl, chiefly
sold in public sale, 40s. to 42a., which were full prices.—Jute, (East
India : 750 bales offered and chiefly bought in, ltif. 15s. to 20f. ss.
Tea: The market remains dull.
BLANKETS.-11, csamenwlear, Drc. 3.—The attendance of mer-
chants here to-day was not so large as on Monday last, and the
amount of business done was not so extensive, notwithstanding the
continuance of cold weather, but the prices which have lately been
obtained were generally realised.
WOItSTED STUFF'S, &c.—Bamarmito, Dec. 3.—There was a full
average attendance of merchants at our market this morning, who
bought rather freely of momenta and other heavy goods adapted to the
winter season, and for which the demand was almost fully equal to
the supply. There was only a moderate business done in dresa goods,
but fabrics of a new style, or new patterns in old goods, were readily
purchased. Some specimens were exhibited manufactured of a com-
bination of silk and Alpaca wool, which make an elegant article, that
was much approved. The demand for yarn* was not very active,
being chiefly confined to the home manufacturers, and the prices
robing firm, the wool sales now going on in Londonexhibiting no ten-
dency towards a decline in prices. In the wool market here prices
were fully sustained, the staplers alleging that they would be unable
to replace their stocks at present rates, and the demand during the
past week having been rather more attire.
HOSIERY AND LACE TRADE9.—/COTTINGII/01, Dec. 4.—The cot-
ton hosiery manufactures, as might be expected from the seaso of
the year, have not amended, and distress prevails in the eastern n
and
southern parts of the county. However, there is a shade of improve-
ment in the cotton glove branch, which employs about 1,200 frames.
'The drawer and pantaloon branch is in much the same state as for
some months past ; that is, a few of the hosiers keep their frames
pretty well employed, while others have been for some time in a
state of stagnation. The silk-stocking trade Is in a lamentable state,
and is falling away. It was hoped, on opening the trade to China,
that a demand would have taken VAC(' for knotted hose, but the arti-
clesnow made are unlit for the people, who wear silk articles of such
a weight that they are heavier and stouter than European woollen
cloth. The fancy bobbin net trade is rather upon the stir. The warp
lace Is in much the same state as the bobbin net trade, the silk branch
being in the best demand. The traverse branch warp in this district
is depressed. A machines are kept going.