The Express.
London, England, 1867-02-20 00:00:00

RAILWAY DEBENTURE HOLDERS BILL.

The following is a copy of the bill for affording
better security to the bolder, of railway debentures
brought into the Howse of Common, by Mr. Wathin,
Alderman Salomon, and Mr. Laing :

" Whereas it is expedient to make further provision for
the security of persons lending or advancing money to
railway companies on mortgage, bond, debenture, and de-
benture stock, and to ensure the continued use of railways
by the public. Be it enacted by the Queen's most excel-
lent Majesty, by and with the advice and consent of the
Lords Spiritual and Temporal, and Commons, in this
present parliament assembled, and by the authority of the
same, as follows:

" 1. This act may be cited as ' The Railway Debenture-
holders Security Act, 1867.'
"2. In this act, the term Debenture debt' means and
includes money raised by a railway company on mortgage
or bond, or by debenture stock, mortgage preference
stock, or by any other stock, by whatever name the
same may be celled, issued to represent loan capital
of a railway company under the authority of any
act of parliament or certificate of the Board of
Trade, and constituting a charge on the undertaking,
or having priority over the preference and guaranteed
shares and stocks and ordinary shares and stocks of a rail-
way company. The term 'railway company' includes
every company constituted or empowered by act of par-
liament, or by certificate of the Board of Trade, for the
purpose of constructing, maintaining, or working or con-
veying the traffic on a railway, either alone or in conjunc-
tion with other purposes. The term ' instrument' extends
to and includes a mortgage bond, stock certificate, and
other document issued in respect of any such debenture
debt. The expression ' person' shall include a corporation,
whether aggregate or sole.
"3. The undertaking as defined by the Companies
Clauses Consolidation Act, 1845, and all the engines, car-
riages, waggons, and other plant, moveable and immoveable
(including workshops), used or required for the proper
management and working of the railway, and belonging to
the railway company, shall be security fur the payment of
interest or dividend on the debenture debts of a railway
company, and, as the ease may require, for the repayment
of the principal money of the debenture debt ; and it shall
not hereafter be lawful for any person to seize or take in
execution, in satisfaction of any debt or claim (other than
rates or taxes, or rent charges in respect of which there is
a power of distress, or compensation for personal injury or
loss) incurred or made after the passing of this act, such
undertaking, engines, carriages, waggons, or other plant,
including workshops as aforesaid.
" 4. This act shall not, as against any simple contract or
judgment creditor, or bolder of any instrument issued in
respect of any debenture debt previously to the passing of
this act, have any retrospective operation."

THE MEETING OP THE LIBERAL MEWHERS.—We
are authorised to state that the meeting of the
liberal members of the House of Commons, fixed
for to-morrow, is postponed to Tuesday next.
This step is taken in order that the meeting may
be in possession of the explanations promised by
the government on Monday, before they decide on
the course to be taken with a view to the settle-
ment of the question of reform.

ACCOUCHEMANT
OF THE
PRINCESS OF SALES.

(THIS DAY.)

Her Royal Highness the Princess of Wales was
safely delivered of a princess this morning. The
following bulletin has been issued :
"MARLBOROUGH HOUbE, PALL-MALL,
P.:;',o A.M.

" Her Royal Highness the Princess of Wales
was safely delivered of a princess at 6.30 this
morning.

" The confinement was most favourable, and
was in no way affected by the rheumatism from
which the princess is suffering.
" Her royal highness and the infant princess are
going on quite well. Signed,
" ARTHUR FaRRr, M.D.

" Wll. JENNER, M.D.
" EDWARD H. SIEVEKING, M.D."
A telegram announcing the event was imme-
diately forwarded to her Majesty at Osborne, and
to various crowned heads of Europe.
The event is announced in a supplement to the
London Gmette in the following terms :

" MARLBOROUGH HOUSE, Fre. 20.
" This morning at half-past 6 o'clock her Royal
Highness the Princess of Wales was safely de-
livered of a princess.
" The confinement, which was most favourable,
was not in any way affected by the rheumatism
from which the Princess is suffering.
" His Royal Highness the Prince of Wales was
present. The Secretary of State for the Home
Department arrived at Marlborough House shortly
after.

" This happy event was made known by the
firing of the Park and Tower guns."

The following bulletin was issued last evening :
"MARLBOROUGH HOUSE, Frs. 19.
" Her Royal Highness the Princess of Wales has for
some days past suffered from acute rheumatism.
" The pains and the febrile action are somewhat less
to-day than they were yesterday. The Princess has
enjoyed several hours of calm sleep to-day.
" WILLIAM JENNER, M.D.
" ARTHUR FARRE, M.D.
" EDWARD H. SILVERING, M.D."