The Express.
London, England, 1867-11-01 00:00:00

GREAT INDIA PENINSULA RAILWAY
COMPANY.

MEWING.— (THIS DAY.)
The thirty-sixth half-yearly general meeting of
the shareholders in this company was held at the City
Terminus Hotel, Cannon-street, for the general business
of the oompany, and also to authorise the directors to
convert any portion of the borrowed capital of fair mil-
lions into debenture stock bearing a fixed yearly interest
not exceeding ii per cent. ; Mr. J. G. Farm, chairman of
the company, presided.
The report, which has already been published, was taken
as read.

The CHAIRMAN, in moving the adoption of the report,
said though there were some things to deplore, yet on the
whole it was very satisfactory. The line was opened
to about two-thirda of the whole distance. The state-
ment of receipts and expenditure was most favourable.
The net receipts of the half-year amounted to 530,5681.. and
the guaranteed interest was 398,452/. He regretted that
there had been one or two accidents on the line, but it
must be remembered that all railways were liable to
accidents. By the last account, from Bombay they were
led to hops that the continuous traffic which had been
interrupted by the fall of the Mhow-Kee-Mullee Viaduct
will be speedily resumed. The Secretary of State for India
had approved of the creation of a debenture stock, bearing
interest at 5 per cent., the consequence of which would
be that they would in uture have a permanent debenture
capital instead of a fluctuating one.
Mr. W. Nicol. seconded. _

---
General BRADEL called attention to the fact that the
works had been constructed in accordance with designs
'motioned by government, and he contended therefore that
the new works required to replace old ones ought not to
be regarded as repairs and paid for out of revenue, but
should be placed to capital. The report, he thought, was
one they might all congratulate themselves upon. It
showed that the net receipts for the half year gave a net
return of more than 9 per cent., and they might safely cal-
=date upon an average of 6 per cent.
Mr. AI Brox, M.P. said it was the intention of the
chairman to retire after this meeting, and under these cir-
cumstances he deprecated any discussion on the general
affairs of the company. All he thought they could do at
this meeting was to adopt the report. They could not at
this meeting deal with the surplus, as the Secretary of
State for India had not yet arrived at a decision aa to the
appropriation of it. They could have an adjourned or
special meeting to dispose of the surplus.
Mr. OPENH LIM asked how much the restoration of the
works was likely to cost.
The Csaiautim said he could not at this moment give a
positive answer; possibly it might be half a million.
Mr. CHILDERS, M.P. said the accounts were made up in
the usual form, and had gone through the usual course,
but with this difference, that when there was a surplus
at the end of the year, one half of which
was to be distributed among the shareholders, that distri-
bution could not take place till a certificate of the state of
the works bad been given by the government surveyor,
and that certificate had not yet been given and therefore
they could not at present deal with that surplus. The
board was fully alive to the question as to whether the
repairs and reconstruction should be paid for out of
revenue or of capital.
A SHAREHOLDER asked whether the attention of the
company's engineer had not been called to the dangerous
state of the viaduct before it fell.
Mr. WATT,4, the manager, replied that was so, and their
''engineer
and the government engineer surveyed the
viaduct, and it appeared, did not attach as much import-
ance to the threatening appearance as they deserved.
The motion was then agreed to.
The CHAIRMAN then moved a resolution authorising the
directors to convert the borrowed capital into debenture
stock, bearing an interest not exceeding 5 per cent.
Mr. FIELD said this stock would be a most valuable one,
and expressed an opinion that the whole of the stock
would be taken up at 44 per cent. The security was the
same as the Indian government guaranteed five per cent.,
and in addition to that it bad the security of the railway.
Besides, the operation would when carried out increase the
value of the ordinary stock of the company.
The motion was agreed to, as was another empowering
the directors to raise any further capital they are em-
powered to borrow by the Issue of debenture suck.
The Csarataart moved that an allowance of 1,200!. he
made to Mr. Watts, the manager.
Mr. ATRTON seconded.

The motion was agreed to.
The CHAIRMAN said he hoped the shareholders would
impress upon the Secretary of State for India the desira-
bility of increasing the allowance to the board, which.
after what bad passed to-day, he need not say he should
not participate in.
A vote of thanks to the chairman and directors concluded
the proceedings.

ENGLAND AND FRANCE. —A few weeks ago the
National Lifeboat Institution offered to the French Ship-
wreck and Lifeboat Society the fine new lifeboat, with equip-
ment complete, which the English Lifeboat Institutionhaa
been exhibiting at the Paris Universal Exhibition. Ad-
miral Rigault de Genouilly, president of the French Life-
boat Society, hasaddrased to the English Lifeboat Society,
in reply. the following interesting communication:—
"Shipwreck and Lifeboat Society, Perim, us, Rue dtt Bac,
29 Oct., 1847.—Sir,—We accept with gratitudethe lifeboat
and equipment which the Royal National Lifeboat Institu-
tion of England has been exhibiting in the Paris Universal
Exhibition. We accept the same as an additional token
of the sympathy which exists between France
and England, and also more intimately be•
tween those who in both countries strive to
provide means to succour shipwrecked sailors. The
French lifeboat work owes already much to the British
Lifeboat Institution. It is by observing Its persevering
labours, profiting by its long experience, and being ani-
mated by its example, that the French Lifeboat Society
has made much progress. The French Lifeboat Society
is therefore happy to acknowledge again its gratitude to
the Lifeboat Institution of England for its generosity in the
gift or this lifeboat. In compliance with the wishes of
the English Lifeboat Institution, the new boat will, with a
suitable inscription, be placed at Calais. The French
Lifeboat Society has decided on presenting to your society
its thanks, which will shortly be forwarded to you.—
Accept, Sze., (siiedl Rtcaour DR Grasonittr,Pres;dent.
—To his Grace the Duke of Northumberland, President of
the Royal National Lifeboat Institution of England."
HOARDING MONEY. —At the Liverpool police-
court on Wednesday, a little Irish girl, named Ann Mul-
doon, was charged with stealing, and her father with
_re-
ceiving, knowing it to have been stolen, the sum of 174.4,
belonging to the girl's master. The female prisoner bad
been living as servant with a Mr. and Mrs. Coyne, who
keep a small public-bonne in Fnntenoy.street. it nprents
that Mrs. Coyne has for along time past been saving money
without the knowledge of her husband, keeping 1.. r tree'
sure hidden behind an old barrel. Making her accustomed
visit the other day to her peculiar bank, she was distressed
to find the money all gone. Inquiry elicited the feet that
the male prisoner bad of late been " flush" of means, and
that he had boasted that he had 50/. buried in a safe place,
and that he had been often seen loitering about the prose-
cutor's house. Information was given to the police, and
the prisoners were apprehended. They were remanded, in
order that additional evidence may be obtained.