The Express.
London, England, 1858-03-18 00:00:00

of EuTines;

The Goviaxoz—lt appears to me that the hon. proprietor
has assumed that the losses upon bill, could hardly have
amounted to as much as to reduce the dividend to what it is,
but the court should remember that the Bank has she made
large sacrifices in the way of purchasing and retelling
stock. (Hear, hear.)
Mr. Alderman B•Lowores observed that the court had the
fullest confidence in the directors, and therefore abstained
from entering into any discussion upon any other topic
than that of the dividend. Considering, however, the
high position which many of the proprietors held in the
commercial world, and coupling that with the pees-
' sure and incidents of the last six months, he really
thought it desirable that there should be a wider range
I given to their comments. It would be only doing justice to
themselves as to the public if the directors discarded the idea
of straining the dividend to gratify the wishes of proprietor'.
Thisgreet national institution in its proceedings and is the
conduct of its business should set an example to all the
banking establishments of the country. So far as the
management was concerned, no better example could be
found, and it was the duty of the court to mark the sense
of the commercial world, by passing • special Tote of
thanks to the court of directors for the manner in which they
had carried the Bank through the recent trying ordeel.
(Chows.)
The dividend was then declared, payable on and after the
6th of April next.
Mr. Baowx took the opportunity of asking whether tin
West-end branch was paying
The Govnetron—l bays satisfaction in saying that than
is an actual profit arising from it.
Mr. BORROVIDALE said he should be sorry if his inquiries
should be thought out of place.
Mr. Alderman SALOMONS said, on the contrary, be
wished more light was given at these meetings. (Hear.)
On the motion of Mr. Alderman Batostotes, seconded by
Mr. CLARK, the thanks of the court were given to the go-
vernor, deputy-governor, and directors for the able manner
in which they had conducted the eat of the Bank during
the last half-year, and ordered to be advertised in all the
London daily newspaper.
The GOVIELNOR having briefly acknowledged the com-
pliment, the court broke up.

CHESTER AND HOLYHEAD RAILWAY.
(THIS DAY.)

This morning the ordinary half-yearly general
meeting of the shareholders of this company was held at
the Easton station, Eir M. Piero, Bart., in the chair.
Tho report (of which the following is en abstract) wss
taken as read

" The accenn ta exhibit a general increase of 3,6251.145. 114
in traffic receipts over the railway, and 1,5231. lie. 10d. by
the steam boats, as compered with the corresponding period
of the previous year, notwithstanding a falling oft in the
earnings from merchandise and live stock, attributabil
partly to the general stagnation of trade, and partly to s
reduction of rates, consequent on competition : the workleg
expenses, on the other hand, show a decrease of 3951. lin
The general result is an available balance to the credit of
revenue of 38,9471. 17e. 9J.' from which your directors is.
commend payment of the full dividend, for six months, at
the first preference stock, at the rate of 6; per mat, per
annum, and a further payment, as for eighteen months, al
the rate of 5 per cent, per annum, in liquidation of arrears d
dividend on the second preference stock to 30th Septembers
1867, leaving a balance of 1,8111. 31. Id. to be carried foe
ward to the current half. The revenue earned dads(
the past twelve mouth, is sufficient not only to
meet the full dividends on the entire of both mir
nice stocks, but leaves a balance of 17,1271., whisk
in absence of preference arrears, would be applicable to the
payment of a dividend on the ordinary stock of the compay.
At the last meeting, your directors reported the =chant
of an agreement with government for improved postal sear
passenger communication between England and Ireland; dai
contract will be presented, fur the sanction of the proprieteni
when eubmitttd for the seal of this company, menler
with such arrangements for carrying out the same as Ng
. . MID

ultimately be determined betweei the oompsnin L
With the view of more effectually carrying out the impala
results proposed by the agreement with government, fat
directors have submitted a bill, having for its object mid"
sire powers for union and arrangeqient with the Loel.l
North Western Company : this bill will, at the proper deg%
be laid before the proprietors. The superintendent MIMI
boats reports that the company's vessels are in good N
efflident working order, and will not require any,ontley,••
apt for ordinary repairs, for some years to come.'
The Cxenteate, after briefly recapitulating the NAM
heads of the report, and explaining that the dividends woad
be payable on the 15th of .1417, by which time thin would
be sufficient funds in head, moved that the report seder
counts be adopted.
A PROPRIETOR, se an original shareholder, uprise!
his satisfaction with the report, and said he began now lOW
his way out of the difficulty in which the company bei•
long laboured. Tho debenture debt amounted to a mils
and it stood at 6 per cent. Was it intended to renew at del
rate?
The Cum:tame stated that sumo of the fire per
debenture debt was now remaining for more than those rm.
There was a large amount of debenture bonds falling Mil
July next, which it was hoped would be renewed at a meta
more favourable rate. Is reply to other questions, be MAI
that the uniasued shares would not be issued under pat 01
from information he possessed, he could say that if tier"
=e did not take them up there would $
try in placing them with the public. ris
dividend warrants due in July, would be h
in part payment from the shareholders, as cash on tit*
share.. With regard to the powers to raise capital unit
the bill now before parliament, that was a matter belonging
the London and North Wooten Company, and would cest
no liability upon the Chester and Holyhead. The model wow'
be raised by the London and North Western upon the gram
meat postal contract that was now under conableratioel :i
the object was to develop the Delft between England
Ireland. There was no intention to subscribe a shilling towel:
the formation of a Conway Valley line, though they world
be wry happy to see such a line carried out, sad to WM
the ?riffle which it would bring to the main line.
The tesolution was then agreed to, and the resolving'
confirming the dividends on the first and seecmd Itls •
stocks, as recommended in the report.
The directors and auditors retirtancLoiz rotation wen
es •or
elected; Sir M. Peto and Mr. Jackson, who had
former occasion intimated an intention of retiring fecal lig
board, explaining that they only consented to remain pmeg
the negotiation with the London and North Weems Oar
WY.
A vote of thanks to the chairman closed the pivotal..