The Express.
London, England, 1866-08-30 00:00:00

GREAT WESTERN AND BRENTFORD.

The ordinary half-yearly meeting of the share-
holders of this company was held yesterds.y_ afternoon at
the Mikes, No. 5, Westminster Chambers • Sir. P. DAVZT,
the chairman of the board of directors, presiding.
The reportof the directors stated that "thetrade carried
over the line during the half-year contrasted favourably
with that of the corresponding period of 1865, and
congratulated the shareholders upon the increase that had
taken place in the opal traffic, which they murk sonsider to
be chiefly owing to the great exertions they had need to
promote tt ; there were 45,927 tons carried over the line
olcu:14 the past half. ear, against 22,745 toss in the cone-
spending period of 1865. The directors had the pleasure
to inform the shareholders that the company had been
scarcely affected by the late ilnanthelpanic. The liabilities
with respect to debenture bonds falling due had been care-
fully ascertained in anticipation of it, and the only amounts
required to be provided were obtained at an increase only
of from 44 to 5 per cent. interest. The remaining
authorised Mimed bonds amounting to 1,3001. as
shown in the balance-sheet of accounts the directors
were enabled to hold in hand, and would only re-
issue them when more favourable terms might be
obtained. The balance of revenue account after pay-
ment of interest upon debentures and all other charges,
amounted to 2,9071. 10s., which, added to the sum of
32/. 2s. 9d. brought forward from last half-year, would,
after providing for the preference dividends„seduat of a
dividend at the rate of 24 per cent. per annum on the or-
share capital, leaving the sum of 1011. Si. to he car-
ried to the next amount."
The Cnenutan, in moving the adoption of the report,
congratulated the shareholders upon the improvement
which had taken place in the traffic of the line.
The report having been adopted,
A motion in favour of the declaration of dividends at the
rate of N. per Dent. per annum payable upon the 5 per
cent. preference shares of 1859 and upon the 5 per cent.
preference shares of 1860, and at the rate of 21. ss. per
cent. per annum upon the ordinary shares, was put by the
chairman and unanimously adopted.

BUENOS AY ES GREAT SOU
LIMITED) THERN RAILWAY
COMPANY (.

The fourth ordinary general meeting was held
yesterday at the London Tavern ; the DIPUTI-CHAIILYAN
(Mr. Brown Westhead), presiding.
The report, which hasalreedy appeared in these column',
was taken as read. In moving its adoption,
The Dnrurr-Cnautilas congratulated the company on
having reached a point from which they had every
prospect of a prosperous future. He was aware that
strong influence had been used to collect proxies
for this meeting ; but be was prepared to contend
that the management of the oompany's affairs had
on the whole been such as to redound to the credit of the
board. The busines• of the railway had no doubt adored
from the disastrous floods in May last, but whereas the
ordinary traffic of the country had been reduced to 86
per cent., that of the company had been diminished only
to the extent of 25. Loo at the largo amount of
traffic from the south of Buenos Ayres, of which the com-
pany at present only enjoyed about one-seventh, he had
little doubt that it would ultimately have not only the 7
per cent. guaranteed by the government, but a still higher
return for their money.
Mr. HODGKIN drew attention to a remarkable eorrespon-
dence appended to the report, and risked Mr. Wanklyn
(who is one of the auditors) if he had further explanation
to give of it.
Mr. WANKLTN having made some remarks in reply,
Mr. Hoot Km then proposed as an amendment to the
adoption of the report, a motion for the appointment of a
committee of inquiry.
Mr. S. HINZTATH seconded the motion.
Mr. C. GILPIN, M.P. (a director), said there was nothing
to which he had ever put his hand that he was not ready
to submit to the investigations of all the accountants in
London. It was, however, fair to point out that the state-
ment they had just heard was that of but one of the
auditors, wbo was not a professional accountant; and that
the other, who was, and who had recently been appointed
auditor of one of the great railway companies, had deli-
berately withheld his name from the report of Mr.
Wanklyn. (Hear, hear.)
Mr. CARA, the other auditor, then went through his
colleague's report, and substantially confirmed the answer
of the secretary.
A very long and desultory debate followed, which at
hurt ended in
The Deeuvr-Criantuales stating that the directors held
proxies, which would enable them to dispose of the
amendment at their pleasure, but that not in the least
shrinking from inquiry, they would refrain from using

them. - -
The amendment was then carried by 15 to 11, and
Messrs. Wheeler, Butler Herepath, ilowring, and Moron
were named as the committee.
The chairman and deputy-chairman (wbo were retiring
directors) having been unanimously re-elected, the latter
yielding to the earnestly-expreseed wish of the meeting,
The proceedings were adjourned till the 2tith of Sep-
tember.