The Express.
London, England, 1858-02-19 00:00:00

by on woregweeet. He had stated hie willingness to
area the rehreses to Mr. Buller, wil-
dzglijoialt amosnietse mad had ea the
ed the imenealey to submit any questions
weeset is be gadded by c;...pstent
Ho Yet night esederilvraon the part of the other
that they that the London and North
Weems y had to der all the matters in
=0 nation. The one of this company had been
bat he believed that the proprietors would in the end
wades remunerative rates by the competition, proving that
Wein was the beet line. no direellers recommended a small
dividend, ving that by me doing they best considered the
interests obf elie
the cowpony. He would now make the formal
notion that the repeat be received, lo suable any proprietor
to put any question he might wish to him.
Mr. Lucite took reception to the latter part of the report.
He had **quietly heard the some segment& used in favour
ef leaving • large balance 'a the heads of the directors, but
he thought the time had arrived when it wee no
to leave • euretztof 40,0001. and 60,0001 undi-
ns;l:d..arile claimed the measure consistent with the
intense of the company, sad he begged to move that the
dividend for the Self year be increased to fri per cent.,
which would leave a balance of 13,00611.
A PROPISIrTOR conceived that there out to be • higher
dividend declared, and observed that if the half-year
they paid a dividend of 21,....ecent. there would still be a
balance of 14,0001. He t the directon wee bound
by law to declare as h • dividend as the in-
terns of the company jpeentited. Instead of
rising as they ought to have done from 10 to 20 per
cent. they had fallen born 10 to 6 per cent., and the con-
clusion woe inevitable that there were sixes powers some-
where adverse to the interest of the company.
Lord Burnt understood that there wer no Met objec-
tion to the adoption of the report. He Wed been •
shareholder of the company for • great many yews
and he had always had such confidence in the board that
he had never before been present at one of the meeting,.
It appeared, however, that the directors wished to ;:tat
railway policy, and pay u small a dividend as possible.
this he wished to remonstrate, and to draw attention to what
the state of affairs was formerly. At first railways
looked after the interests of proprietors, bat now ell the corn-
ries like the Greet Northern and London and North
were perpetually playing • game at chess one
aglsullde other. they wanted their dividends ape they
must put an end to this system of competition. He
had an accusation to bring against some pert of
this company, which wee the overbearing insolence
with which they treated smaller interests. He was
• trines of the Bridgewater Canal, and the overbearing
insolence with which they told this company to lower
their fares, was more than flesh and blood could bear.
Another subject of complaint was the want of
dvility to be met with amongst the weployis
of the company, which contrasted very unfavourably
with the conduct of the officers of the Great Northern Com-
pany. He believed that these were some of the mesons why
they were toeing money. He hoped that in future every
effort would be used to avoid competitiooqn, and he saw no
other way of getting out of their present dibreaor than by
submitting the whole matter to arbitration.
Mr. WAN. woe mortified that with a balance only of 6001.
less than last year they were to receive • dividend of
half per cent. lee. The y had a large increase In the capital
of the company, and be thought that cartein changes should
be made against capital instead of revenue. He wished to
ask what surplus 51 per tent would leave them, and whether
the surplus revenue in hand would bear • dividend of 6i
per cent.
. . . . . .

♦ PROPRIETOR believed that want of civility from the
company had driven many Manchester manufacturers to the
Manchester and Sheffield end Great Northern Railways.
Mr. R. Y•axoy declared that the conduct of the Man-
chester and Sheffield Company towards their company had
shown • want of good faith.
(The meeting was proceeding when we went to prem.)

ICETYPORT, ARBROAVIIIIIIT AND HEREFORD
RAIL IVAT.-(THIS DAY.)

The afternoon the usual half-yearly meeting of
the reprietors of the above railway was held at the London
Tavern, Mr. W. P. Puce, M.P., mu of the directory, pai-
ring.
The eerie stated that during the half-year ending 31st
Dwarberhat, there lied been expended and added to capital
KW Ile. she of the amounts authorised to be raised by
the resting ofreholders held on 17th AFil 1866, there
MI been received 69,0701., leaving to be moiled 65,1631.10 e.;
the per 11•111illp of the line for the half-year amounted to
211,1401. 16s. Id., against 28,1061. 10e 7d. earned ittriseths
ceneepcmilieg half-year of 1866; theweeka acpurss wore
48.40 against 62.71 for the corresponding -yeer of 1666;
the .at revenue of the half-year (after deducting 2,9361.
Is. il., the balance paid on the Nantyderry accident)
amounted to 11,563/. le. ; and this added to the net balance
of the lest half-year's acement, vi., 3,8651. 14a. 5d., gave an
available balance of 16,4181. 16e. 6d. Punning the rule
Mt doer at the Amur half-yearly emetics of 18.56,
the hinder bed paid eat of this sum the interest on
the dskarrs debt I • Jeraarry 15th, Nhalf-
to 5.3951.
.; art, eke a of the half- • dividend
en the 6 per cat. ail per rat shares, . 16•. Bd. would
shad le the credit of isneers, which the directors roam-
rend sisreald be carried troths meet han-yeer's account.
The CZAHUII•N warn the adoption of the report,
entgesideled the ihrebeilies upon the completion of the
reavrey. Ter, it did sot yet yleM adividend an the ordinary
reek, hut the holders of that reek had the sane-
Mellen of knowing that firs newt twelve months
rest dernare, one way or the ether, the calmer-
of the undertaking. Without venturing into
the dowi of prophecy, he might perhaps be allowed to say
hi ere Imhof was that the line would pay.
The evert was, after some rid el planation of the accounts,
=liawl the preferential dividends declared payable on
' r the Ist of March nal!. _ _

11r. ionntes s, of Hereford, wee elected a director, in the
room of Idejor Suck, resigned, end the proceeding' clamed
in the amid manner.

BUCIENHANSHIBB BAIL WAY.-/THIS nAr.)

This morning the half-yearly meeting of the share-
holders of this °newsy me held ai Easton-square, the Hon.
L PIERREPOINT occupied the chair.
The report, which bat already appeared, shows a balance
to be carried forward of 1,3811. lac Id.
& Tbe report wee adopted, and the retiring directors were ro-
sins

• vote of thanks to the chairman terminated the pro-
epullnepL

GZZAT 148711 N 87E41 AdVIO4TION
OOMPANY.—(27IIB DAI).

This afternoon the Seventh Annual General Meet.
bee of Proprktors in this Company WV/ held at the London
Tavern, to receive a Report from the Directors, to All up
vacancies in the Direction, to elect Auditors., and for the
pineal business of the Company. Mit. HOPE, the Chair-
men of the Company, prodded.
The report of the Diesc!ae, which was read, recommended
that the mediae be sdptad until the 12th March, in order
Mat a camptele datement Buy be submitted of the works
is be ezecuted, art of the peowahry resources to be pro-
,Med. In the man time so Interest is to be paid on the
tilde capital for 1567. The funds required for the launch
of the great Mama were presided by the renew of 7,600
et the forfeited shone at 4i. par share fully paid up. The
Each feeds required may be procured by Leming more of
the Uhler/ there , or by reidor money on debentures.
The report wee edepted, and the meeting accordingly
aijeoresd.