The Express.
London, England, 1858-02-18 00:00:00

BRITISH AND Lt 181( MAGNETIC TBLEGRAPH

ADYPLII~Y

The first ordinary general meeting was held at
Liverpool yesterday, when Mr. E. BRIGHT, the secretary,
read • report, which slated that the results of the union of
the English and Irish Magnetic and British Telegraph COM-
ponies, sanctioned in November, 1866, had completely sup-
ported the anticipations of the directors; the receipta—notwith-
standing losses from the breaking of the French and Belgian
submarine cables in January, 1864 and the depressed state of
trade in November and December—of the new company for
the past year having been nearly 6,0001. greater thee those of
the joint companies in 1856. A saving in working expenses,
too, had been effected, of upwards of 7,0001., 0001010,4 with
the expenses prior to the junction. During the past year
193 miles of additional line, comprising 323 miles of telegraph
wire, and twenty stations, bad been added to the company's
system. With regard to railway branches, such works
had only been adopted ma would yield • large re-
tarn upon their cost. The mileage of the compeny's
works in the United Kingdom was: Lines of telegraph,
3,441 miles; telegraph wire estimated 15,888. By these
hues the 240 stations of the company were placed in direct
communication with each other, and with about 1,400 sta-
tions on the continent of Europe, together with • number
recently formed in Africa. The company's wires ware con-
structed upon 36 railways in the United Kingdom, end the
system of glees insulation had bean extended to 260 miles of
win In the Midland, North Eastern, and Scotch districts, in
plans of the gutta perch' insulator,. Additional protection
bad ale been provided for part of the underground wires.
The wires in connexion with the continental submarine
sables floes London had been increased in number,
and could now be forwarded from London
to most of the chief towns of Europe without re-
transmission through any intermediate Mee. The
paid messages breaded over the company's wires la 1867
were 356,182 (a large increase), exclusive of the railway and
service messages end news despatches. Special facilities had
been afforded dinhig the past year to the corn trade by the
extension wires into the chief corn markets of the United
Kingdom. The accounts submitted ahoverd the present au-
thorised capital of the company to be 600,0001. The revenue
receipts amounted to 73,9471. les. 9d., from which had to be
deducted 2,2021. 19e. 101. received on account of the carriage
of messages beyond the lines of the company. The working
tlll7amounted to 38,8881. sv. Gd. ; the interest on loans
51. 19s. 4d. ; and the dividend on terminable prefer-
ence shares (C 1... IS) to 4,2571. 15s. 6d. The balance car-
ried down, after paybag a dividend at the rate of ai per cent.
on Class A, and 41 per out. on Class C, left a surplus to be
carried forward of 2;000/. The auditors' report suggested
the desirability of opening a reserve amount.
The report and accounts were adopted, the directors were
re-appointed, and a resolution passed Authorising them to
robe a sum sot exceeding 60,0001. of additional capital, for
sew works.

THE CHURCH RATE QtrEBTION.—It is our delibe-
rate opinion that the thumb is a good deal the worse at this
moment for the rates, and would &Iseult bar own interest,
temporal ea well as spiritual, by throwing tbma over. Could
say arrengamsnt be made for supplying their place without
the remedy being se bed as the dimes; which certainly
would be the case with t3h 0. Orey'e preposition, well and
good ; we cannot object; bat, at all events, give up the oom-
pulsory impost—the indletaintinste levy on rich and poor,
churchman, dissenter, unbeliever, and the still larger aims
that neither believes, dissents, nor disbelieves, nor cans a
straw about the matter.—Times.

—NORFOLK DAILWAY.—It appears from the report
just issued that the amount credited to the Norfolk Company
by the Eastern Counties Company, as their proportion of the
joint-earnings of the past half-year, is 47.1181. Bs. ld. which,
after deducting the interest on guanuttecd stocks and loans
least a balance of 19,9791. luo. 9d., end enable' the director,:
to recommend :a dividend of 21. per cent. upon the ordinary
stock of the company for the loot half-year.
LAdvertistenent.}—A DOUBLE MAP or Patreetn
Grew on eel DAT sal?
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fore tin ism* perfect bad mini MIN ewer palialdffi.
asiotors of the Atka are kapteramemb en ese.
be rim coasplMe at mAif •0 price of r " weft
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