The Express.
London, England, 1858-10-29 00:00:00

8001TI811 4178T1ALLI1Y INVILITZZAr 00t.
P4NY.—(22IDI DAT)
This day a meeting of shareholders in this tort.
cagyfanas held at the London Tavern, for the of COO.
resolutions which were unenimona y at a
of the company held on the 30th July =e
'flirdZr object the conversion of the 200,000 one- ns,p
shores of the company into stook.
Mr. Drum, who occupied the chair, said that at the last
meeting the subject had been discussed and met with gement
approval. It was the unanimous opinion of the board that
the alteration wee desirable, u it would give tressed
security, save expense in the transfer of shares, end cuumwl
labour in the office.

Ths motion having bean seconded, was put and unsni•
anomaly adopted.
Mr. Goer moved a vote of thanks to the manager, Mr,
Morehead, for his long, valuable, and able service, to ea
company. (Hear, boar.)
The motion having been adopted,
Ths Cmitismex said that the dire:tors entirely symp.
third in ths compliment which had been paid to IG. 166.
haaiL
_Tear. bow.)
Mr. MORZ/11AD returned thanks, sad exprsimad bib es*
Mom I. the prospeces sad polities of the comm.
The moan then separated.

ORRAT DIDLAN PENINSULAR RAILWAY.
(TIIIB DAL)

Thum day at noon the usual half-yearly meeting
of the above company Irma held at the London Tavern ; Cap-
tain HAMILTON (chairman of the board of directory) in thy
chair.

The report has already been published. d come
spondee*, between Mr. Franklin (one of the and ere)
and the directors was read, in which Mr. Franklin
pointed out certain detente, end suggested altera-
tions in the mode of making the audit of the half=tyiz
counts. Mr. Franklin, finding that Mere was no '
to adopt his suggestion, announced his Intention to with.
draw from the office of auditor. He had therefore clecliasdes
the existing accounts, except the directom commend to
LL gaing so in a qualified form.
The CHAIRMAN, in moving the adoption of the report,
observed that the worm under construction were making se.
tefamory progresa During the pan year 680,0001. had been
expended in engineering operations; in 1866-67
the slumber of persons employed by the company
in all departments was 45,000, whereas last
year it had reached 65,000. The returns upon those portions
of the line already open would yield 61. 17s. ed. per cent. per
annum upon the capital expended. This was 17s. ed. In
excess ofoLlguarantee of the government; but the surplus
being small, any divisions of it at present was oat of
the question ' • besides the terms of the gammas
provided that • division of the surplus profits
should not be made until the entire was cons.
pate; and in the meanwhile, therefore, the surplus due
to the company would go in reduction of the debt owing
to the ggoovernment. Having entered into some explanations
respecting the dispute with Mr. Franklin, the auditor, the
chairman concluded by congratulating ties proprietets upon
the prospects of the undertaking. They bad ample grenade
for considering that it woad ultimately yield a very hand-
some return fur the large outlay which it had involved.
Mr. FIRTH, the deputy-cheirroan, seconded the make,
and declared that nothing whatever had been witheld from
Mr. Franklin. All the books, registers, and vouchers bad been
placed at his diermeal, and the insinuations which Mr.
Franklin had made were tuigenerous and ill-founded, if not
absolutilf indecent.
rln y to questions,
The MADMAN stated that no new projects beyond those
already entered upon would be undertaken without the pre-
vious consent of the shareholders. The present works, with
the exception of some 800 miles, had been let under
the engineer's estimates. In the nee of the 300 miles the
original estimate was exceeded by about 601. per mile. The
total amount paid to the East India Company for interest ce
the loans up to the date was 559,0001., but from that sum must
be deductea 98,0001. the net earnings of the lines in °parsec&
Mr. Fume's Luc, the *editor' vindicated the course be had
taken, and in doing so, he said he wished it to be undentood
that he meant to cast no reflections upon the integrity of
the directors in what he had written.

Mr. ANDERTON, the other auditor, declared that no oysters
of audit could be more effective than the one in this com-
pany. It was subject to checks and counter checks, and the
shareholders might tint satisfied that the accounts were true
and accurate to a 'lulling.
The report was then adopted.
A resolution was afterwards passed, authorising the direc-
tors to convert the paid-up shares Into stook, and the pro--
wading@ closed in the nanel manner.