The Express.
London, England, 1866-04-04 00:00:00

P2OVINCIAL SHARE MARKETS.

IivMPOOL, gruM 2.—flelea to-day : lemosidre and Y
11021L—Grei 40—lamimagd Worth Wagers, 12/Crltt
I—Manchcater,Shalleld, andLincolmhime3l—Metropoßlaa,
—l3stffalo and lake Huron, air 7-16 1-16 7-16—Grand Trunk at
nada,32 4—Cheat Wretern of Canada, 161 15-16
—lrivt-rwmdtB.3ll —patch lilmnish,&„—Oreat Luzern-
bourg, 159 }—timbre Meuse, 9 gid.— Dank, 1 v.—
ltamMls and Radiance Bank, 4 1116 d.—Overead, Gurney and
Co.. 1; v —Liverpool and London and Globe, p.—Dnion
Mather, 1 9-16 11 1 9-16 p.—Plintildre 01l and Ginn4 Company,
41l g
Aram B.—The market was Moldy, and prime
go a shots better. Bolckow, Vaughan, and Co. (Waited),
UYBuffalo and lake Huron, 6t—lre. 66 I—Oreat Lamm-
boar& 16} I—Grand Trunk et Canada, 91 §—Ditto Fourth Prat.
219—Grtatitestern at Ongsada, 16 13-16;--Great Western, 1.431.1
80tthleireltire and Yorkshire, 1101—London
Caledonian In=wraAmtimU. d.—Landon and
• Meatern, 121 , Shelßeld, and Uncolnehlra,
Ditto, rye -I Cent. Yrd ,97 Ditto, Z 6, 3-16 p.—Metro-
poU
ten, 134 9dlaml, 1 Gurney, and Co.
IMMed), u-il v.—United States 6-20 Ware Benda 71 9.
litimUsußsit, Aran. S.—Beanies done: Birmingham 01141.
at 831 : Birmingham Joint Stock Bank, at 1
e: Town
and District Bank, at 141 ; Dudley Gm, prference per
at 26 ; Betannia Mill, et 14 (Us. : and Mturtz Metal ( at
1 dia. Clolng prlaMima :—Loodon
12 andl
North Western Railway,
latiwrurn ; Mid Railway, Ito 113 i : South Staffordshire
, 8114, aellen : and Gnat WNW; Birmingham Guaran-
teed 39 par Cents., 71}, idlers.

GREAT WESTERN RAILWAY OP C
( THIS DAY).

The half-yearly meeting of the shareholders was
held at noon this day, at the London Tavern ; Alderman
DAZIN in the chair.
The report, which has appeared in the Express, having
been taken as read,
The CHAIRMAN moved its adoption, and that a dividend
be declared at the rate of 5 per oent , free of income tax.
He congratulated the shareholders on their changed and
prosperous circumstances. The obstacles to their
successful enterprise were nearly cleared away, if
not quite. The outlay on capital account during
the half year was 32,5261., which included 14,0001.
on the Car ferry-boat for the Detroit river, and •
large amount for the new station at Toronto. The capital
account was exhausted, except 3,838/. ls. Bd., but they
had several sources from which new capital could be
raised, including authorised share capital, of which there
remained a considerable amount to be raised, besides which
they had paid off bonds to • considerable amount, which,
in case of need, could be reissued. The revenue, he was
happy to say, was increasing rapidly The receipts
during the past half year were 389,0001., against 312,729/.
for the corresponding half year of 1865, being an increase
of 221 per cent. The aggregate loss from adverse ex-
changes since the commencement of the American war to
the present time was 443,9871., close upon half a million.
But for the losses arisinfifrom this source, the line would
now pay • dividend of per cent. (Hear, hear.) The
prim gold, which was 48,. was now, as appeared by •
telegram received that morning, fallen to 126 - and if this
reduction went on at the same rate as it had been doing
lately, there would soon be no further loss arising
from that source. The traffic was increasing at • very
satisfactory rate, and the proportion of the working ex-
penses was decreasing. The shareholders would be aware
that the reciprocity treaty with America terminated on the
17th of last month, bat the directors bad every reason to
believe that the abolition of the reciprocity treaty would
not have a detrimental effect on the revenue of the company.
Though they regretted this interruption to free trade, still
in this ease there were compensating circumstances which
would make up any lose that might occur from that source.
What the company called their foreign. traffic would be
preserved. The local traffic would be interfered with to
some extent, but teat was not a very large element for
consideration. The only part of the Oldie that could be
interferedwith was that whichtook its source from Canada,
which hitherto had had free course in the United States.
But that amounted to only one sixteenth et the entire
traffic, and sa a set off against this they would no doubt
have a large increase in the foreign traffic. With regard
to the matter of the Commercial Bank, while he and Mr.
Fanlooner were in Canada they bad some interviews with the
repreaentatives of the bank, and they chowedthem that the
Deeroit and Milhawkeeline was advancing to prosperity, and
had abeady a surplus revenue. They could snot succeed
in settling the matter then, but inibeequently Mr. Cart.
wright,thepresident of the bank, paid • visit to this country
and he had several interviews with him, and the result had
been that there was now every probability that the dispute
would be settled, by an arrangement on the basis of the
rum in dispute being paid out of the revenues of the
Detroit and )(Sweetie railway itself. He should here-
after propose a resolution to carry out that arrangement.
There was another matter of considerable importance to
which he wished to call attention, and that was their
relations with the Grand Trunk company. Within the
last day or two they bad received • proposal from their
mansger in Gana& by which they would put an end to
competition with the Grand Trunk, and have equal rates
and fares from competitive places. He trusted that some
such arrangement would be carried out. Considering that
the Car Ferry had now been opened, and the bridge over
the Hudson completed, and that the Detroit and
Milwaukie was now prospering, he thought there was
every prospect that this company wouldid go
the
on
prospermg. With regard to the to&tened ra of
Fenian' tato Canada, though no serious fears could have
ever been entertained respecting it, yet it was gratifying
to find that in this case, as in most others, out of evil
came good. That threat had shown the determination of
the Canadians to defend their hearths and homes against
any invasion whatever.
Mr. Basra seconded the motion.
Mr. Mom, M.P., and he had heard the statement
of the chairman with regard to the Grand Trunk, with
r great satisfaction. Rightly understood, the interests of sll
the companies were the same. He thought that great
prosperity was about to dawn on this company.
Mr. La Claim expressed his dissatisfaction with the
smallness of the dividend, and said the line ought to pay
• at least 10 per cent., which would be considered a amen
dividend in France.
Mr. Moron said he wished to call attention to the
. chairman being a director of so many companies, and
- suggested that with the list of directors should be pub-
dished the number of other companies they were
directors of.
A Sitaisnowisa remarked that he did not think thej
had reason to complain of their chairman not Wong
l S cleat interest in the affairs of the compiny, seeing that he
- found time to go to Canada, and spend weeks there on the
- business of the company.
- The Cesium( said Mr. Moron's remarks were made on
- • tof principle. With regard to himself he was out of
bwinws,andthereforehadnothisattentiontaken up thereby.
He was certainly on 12 or 14 directions, but some of them
met only once a month, though one or two were of an im-
portant character. But if the shareholders thought he
= ought to retire from the direction of this company he was
ready to do so. (" No, no.") His present position with
II reference to this company was not of his seeking.
He undertook nothing that he did not feel him-
- self competent to carry out. He did not
-- seek to be of this company, but was
- strongly premedchairman to take the chair, and he thought the
- attack on him was ungenerous. (Hear, hear.)
Mr. G. Sartre said the observations of Mr. Moron had
g-
iven peat pain to the directors. The chairman paid
very great attention to the interests of the company, and
looked upon them as if it were his own business he was
attending to.
The motion was then agreed to, and • dividend at the
rate of 5 per cent per annum declared.

Caoomuvieyr, APRIL 3.—Theme st Ind
Jamaicaia
peered
and
Pacifist Oompany's steamship Hayti, ,
the lastnet at 5.30 p.m. to-day.
DaCa&um OF Cana LW SONERSETSILTRIL —ln
1836 the Taurean assize calendar coatained 773 commit•
tall. la 1666 it contained only 316 committela