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

111.014 N IiSTIAN IGNCITON ILLILWAY
CantANl.—(27llB DAL)

This day
l a the the o
shoverdinary pa- oral meeting of English
tesrehohlen woe held at the London
crew, Me. C. WIJUNO in . The object of the
tondo. we the ed=hB report, sad the obtaining
tba Wilma of the lot an issue of obligations or
debeotwee to the memo of 36,000, in °eke to enable the
filrectore to pet the wedortgiop into • prefect actuarial coe-
dit
thes% and I. deoelepe le their fullest 'stoat the cape/Abner
of reiloop.
Alter the mud keine preliminaries the SICILITART pro-
ceeded to reed the report, which disclosed the following
"gores. rieperty sad ammo which are equal to the liabilities,
09807/. 14s. 7d. LiabDaties, social than cepit4 212,6001. ;
loss of 1862, ,177 4801. (original)y, 180,00 W.) ; of every
kited to be ithelisegok 31,4461. The realisable seems
tee 22,619 L de. 14, set, however, all realisable sa once, and,
morworrr, the whole mewed to be reduced by the loss of Mr.
Itresiere Ask. Allowing for these circurnsittheas, the sum
teeny Ilvalabli Is only 10,362/. 106. 4d., while the debts are
(op to ild December last) 33,4461.16 e. Adding 12,9301. re-
quired for all ocatingeocies, a capital has to be provided
ri 36.0001. The report further states that the works of tie
fourth eection have bath actively pushed, and the returns for
the pest year have bath—passengers, 250,000. goods, 75000
loos • return on both, 14,6161. These figures showed an
increase in the previous year of 1,9601., or 1651 pee
coat. A seeing of sixty per cent. has been effected
bk working °spews by a contract for permanent way,
and it is hoped that is future the working expenses
will so* exceed 10,4001. eves with • much more developed
Odic. The reduced rata has been in operation daring the
ethanided period of the present year. A loan has
extracted 4* which it is proposed to meet by the issue
of 4,000 debentures of the nominal value of 400 fiance
or 201., with an annual Catered of fifteen francs or
12e. each, redeemable by annual drawing in 56 NM
2,126 of these obligations may be taken by the
at 125 francs, or 91. each, and tailing this Mr. Blethoffsheim,
the loth contractor, will take the whole. By this anew-
meat 36,0001. will be raided on terms which the directors
welder satisfactory the annual charge being only 2,6001.
for Interest sad sinking fend. This operation completed,
the concern will to In a position to develop* its resources to
tbs./0114st extent._

----
11[r. RCP ty, the managing director in Belgium, read the
balance-slier, the results of which we have already
epito-
aiaed from the report.
The C *lee iv, in !imposing the adoption of the report,
aid that the ~aeon why • menus SCOollit wee tent pro- '
malted. was that it might have misled the anweholdeee
to the actual receipts and timelines. Timm had beat
extraordinary items for embankments and ether
alterations in the works and plant, all of which
WTI now in an efficient state. The feta= =rine
for working would be at a Winona rite,
because the directors bed established a budget which hed
=fay effected the utmost economy. For the femere the
when =ponies would not exceed 10,4001, per mance,
sad the revenue accounts would be of the amplest poseible
character. Ho would seat allude to the traffic. The cote-
ray had never been in what he would call a normal
elate, it had always been M debt, and the
menial of the directors had been concentrated on
the work of keeping the wolf from the door. Notwithstanding
thisMoweverehe Merman of remit= last yew had been 14 per
east., sad indeed there had been • gradual increase of traffic
ear ace the opening of the line. Further, the directors
to =courage • coal-dealing company, which would
terlirael moot beneficial effect on their train'. He next came to
die =mein question. The shareholders were aware that when
thopremat directors came into once their admire were in • mon
taratidectory ccaditiore temporary financial expedients had to
be resorted to, but now be was happy to say that the time had
arrived for a permanent arrangement. They sow proposed •
lose of 3111,0001., which was in lieu elan temporary expedients,
sad misjudged by the improved trine and prospects of the
my ..Their colleagues in Belgium had been unremitting
a their labours. They hid attempted three negollatione, all of
which had subselmently abandoned, but now he was
happy to say that a contract had been coaled= with M.
Bisebottabeint, the banker of Sewed* for 36,0001., the Mere-
holders being authorised if they chose to subscribe
for half that amount. The debts, were only 33,0001.,
fpm reduceable by 10,0001. available awns, leaving
23,00% at the diepooal of the directors to
deer op all outstanding claims and to make all far-
that neameary works and meet cartels expenses. He
wee able to declare that this would be the last
lea, and that with it the capital account would be finally
Mead. (Hear.) Compering the operation with other loans, he
believed the berme to be fair and reasonable, and further he
W to state that they were the same as those on which the
treat Luxembourg, with a government guarantee, had
recently obtained pecuniary eadatune. His (the chair-
ames) firm had subscribed /fir nee-half of the
shares, which win at the disposal of the share-
holders. The abas•boadin bad, however, the right
without the obli whim he had undertaken both
the obligation and the eight. M. Bierhoffeheim would
have the usual beakers' memateeken, but his (the chairman's)
firm would obtain no commaion ea their share of the tram.
action. (Hear, hear.) The arraaremen bad bola sleeted
with the coal company under the of Xr._ ,Brene
• particularly dearable person, who t undersiood
the great central coal bash Helliffwflaniumweelbotto
their supplies would be obtained. The to
the coal company would be asked foe their webeeriptine is •
week, and then the operations of that campsay weld atia-
maim at once. He regarded this fact as • meet Isvoemili•
feature in their patient position. He did an via to he In
sanguine, but he believed that the directed had made thew
mhos thoroughly aequaiated with the impakilities of the
line, that they have fully developed the= and leoldatigimo the
facie be had stated, and to the ether fan dime all
railways had improved since =sir erne& he pow se reason
for discontent on the pert of the e6msieYan; as the coa-
trazy, he thouOt they had the 'reaped of *very adisfactory
Were before Mem. (Cheers.) la oeselneita no chairman
Wormed the meeting that M. Orebea would Gnawer say
patio= that might be asked ea to the Mille, end moved
the adopt of tee report, which wee ended aaa.lmooely.
la =ewer to uestion, the CRAIIIMAN elated that be
had Maned 2,006 i. In the coal comma y, but wee willing to
give a parties rf hie shares to any shareholder who might re-
quire them. With reference to the calls In anew, the di-
rectors th,oeht It 'inadvisable not to forfeit the share.. They
would wait until better Oat, when he hoped they would be
sere advantage rushy reelable for the company. (Cheers.)
In mower ao another quietism,
Mr. RP.1,04 explained the nature of Mr. Mesa r' debt.
At the commencement of the railway 30,0001. had to be
sent one to Belgium se caution money. This sum was
remitted to Mr. Ideal, who was then the banker of the
rompuiy. That =edam= adetquently became embarrassed,
hut 2:41)001. had been recovered out of hie estate, and he be-
hoved a further eon would be recovered. While, however,
the nutter remained open it was necessary that the debt
should Appear in the me-ousts.
Mr. W. Toonoon raved • resolution, authorising the
late of 4,000 obligatioce, purulent to the reconiuseadatioe
of the report.
The ration haying bees seconded,
Mr. Fin o spoke strongly its support. He considered
thet to be better than they could have expected,
and that car. Bisehoffebeina reedier' to take the whole was
• moat healthy symptom. Mr. Bieraffebeint was one of the
elintediet an he know, and if he wee wilting to wait
Ina money, the Begllsh shereholdere mod sot hesitate. Mr.
Biachoffeltaire's offer was the beat opinion they could have,
as to the future prospecte of their company. As
to the he terms, thought It wee most extraor-
dinary that they should have obtained the same se
the Luxembourg, which had • government guarantee, and
whom property wee sot hypothecated, as theirs was to
previous debenture.. He was most agreeably surprised at
the prepaid now male, which la round numbers might be
considered as an additional call of 10. per share. As for at
he uuderatood the prereitiou and the statement that had
bees made, he congratulated the sherabolders upon it.
The Cita tav IN, in putting the reenlutioe, said that the
abaseboldere might chum the oldorationa at the rate of one
for every 20 Mares, but they need not take any if they did
not me dt. He could freel indorse Mr. Field's opinion, as
to the veto* of Mr. th ' 'a opinion, but that gentle-
man had taken care to have good menagenend by making
the diroaors themselves take • portion of the obligation,.
Ile hived that the shareholder, would lose= time in ending
their proxio. to the meeting in Belgium, as, unless two thirds
of the shareholders were represented at the meeting, it mood
be adjourned for • mouth, and in the meantime the whole
affairs of the company would be hung op.
In answer toe question, Mr. REIIAN elided that the com-
pany had the ',moorland guarantee on the whole of the line,
and that the whole of the moths money had been returned.
The resolution woe then put and carried unanimously.
After some e splenetic= ae to the mole in which it was
expeettil the receipts would be inereamed, the proceedings
terminated with the usual vote of thanks to the chairman.

THE " Third • AND Trig PENNY TittaTlsE.
l'p to this time no yoke has been beard from the Titers on a
subject intimately effecting the rights and interests of its
order, which that We
is, for the most part, honourably
eager to protect. We have reason to hope that this unac-
countable *Omit* will speedily be broken ; and all doubt
Sc
to lb. I. which our Influential contemporary
will speak wh,a it circle its loins for the controversy,
i. •••'^`l•l by ate boldness with which it has cast in its own
lot web the ohjoitta of the crusade which Mr. Bodkin has
bye comminenced by the lionie-odice to direct. In its im-
previa yewerdav the Ttimee glues conepinions place to
▪ Inter from Mr. Walter Savage Landor, in which it is
told, " I cenesidir tyransicide ea the sublimed of
virtues. it being elf-immolating for a man's native country.
It stokes him down who bath subrerted Its laws, sad
stands eliove than on their ruins. Now, whoever is above
them iii out of them ,in one word, an outlaw. • • •
Again, I declare thee whoever slays unjustly, l• justly
slain. Would Alrernon Sidney, or the still rester
Hiltoq coetrovert this silo= ? Are the writers who
pertinaciousl oppose theta wiser or more virtuous
than they!' Now, in these sententious pumps
there in we venture to assert, the whole argourmt of the
pamphlet published by Edward Truelove, written by W. E.
Adam', arid entitled " Tyratuticide is it justifiable," nor
le it possible that any government which pursues for penal-
ties the authors of the penny treatise which it thereby lifts
into importance, out coensteetly abstain from turning its
battery .mien the orierical journal of the I.:nited King-
dors.—Yeseherter Oudintstle.

CRYSTAL PALA= ONZ SHILLING DAT.
WED4r•DAT, MAACK 17. OM paymat, 771 ;
thus by sums tido* 245; 1644 1,016.