The Express.
London, England, 1850-02-12 00:00:00

RAILWAY MEETINGS.

NORTHERN COUNTIES UNION.

Yesterday the half-yearly muting of this company was
held at the London Tavern, for the purpose of receiving a
repeat of the directors, and for other pupae', Major
821111870111 k, M.P., took the chair, when
The SECRETARY read the report, which stated that—
" The directors had, since the last half-yearly 'meeting, and
in accordance with the unanimous desire of that meeting,
greatly reduced the liabilities of the company on satisfactory
terms. The directors continue of opinion that it is inex-
pedient, ender existing circumstances, to proceed with works
on tha line. Sizes the last halGyeariy meeting the sum of
3,1231. 16e. 4d. has been received on account of arrears of
call. The directors regret that they have been driven to
adopt legal proceedings against some of the defaulters, and,
in justice to the other proprietors, it is their intention to
follow out this costae except in cases only wheys there are
strong grounds for believing that snob steps would be
entirely Nukes. The directors have moistly sold Gut the
3j per cent. sleek belonging to the company at a profit of
2411. 4a. &L The proceeds, via., 13,6401. 10s. 2d. have
been lent ea t securities at call. The director's
recommended tle confirmation by the meeting of the for-
feiture of 70 auto en whisk the all was in sneer, and of
which die notice had been given. The beluga sheet
1a Jageet showed albrigzif 30,22a1/2e. 74.
The CHAIII=n moving the &dories trf the mirk
raid that since the last meeting the object of the directors
had been to do everything they could with • view to
economy, so as to put their affairs on a satisfactory basis. In
regard to the Teeboy branch they had made arrangements
with the landowners, so as to slimily* the shareholders; and
as to the With branch, the directors had been negotiating
with parties to take it off their hands, during which they
had found the advantages of their powers for taking extra
land. As to going on with the line, it was always bee indi-
vidual opinion, that under the circumstances it would be
madness so to d 0 for it would only be laying their money out
unprofitably. (Hear, hear.) It would he seen that the
directors had done all in their power to co'l..ct the arrears of
calls, and that since the last meeting upwards of 3,0001.
had been received, which showed no want of activity on
their part. (Hear, hear.) He hoped parties still in anew
would be no longer so, for the law mast take its course in
respect to defaulters. The directors had got together a
quorum of their body, at some expense and trouble, for the
purpose of selling out their stock .for a higher investment.
The last time their stock was sold at a considerable loss, and
being willing that it should not occur again, the directors
waited till the funds bad realised the,r highest amount, the
result of which had been a email profit. The sum mentioned
in the balance•sheet as being in the Commercial Bank, was
there on the 26th inst but was now in Exchequer bills,
which were in his custody. In respect to the removal of the
offices, he was happy to say that they bad effected a raving
of 1601., and in other things the directors had exercised the
greatest economy possible. (Hear, hear.)
Mr. BATLEY seconded the motion.

A SHAREHOLDER asked how it happened that the
law expenses were 2,6481. ds. Bd. ; this was no: much in
hoar of economy.
The CHAIRMAN replied that tot one shilling of that
sum had been incurred during these two half year?, but were
sums due two years ago, which bad only now been settled.
Mr. SAMS asked if the amount invested in debentures was
perfectly sale.
The CHAIRMAN said it was perfectly safe, and such
was the opinion of counsel. It could be got back when
required.
Mr.SPACHMAN hoped it was so, for he was connected
with a company where the interest wes said to be illegal, and
so such could not be enforced.

A SHAREHOLDER said that was perhaps a case of
mortgage, which was different from debentures.
The CHAIRMAN observed that the directors had taken
the opinion of Mr. Lloyd, who said tkat they could seize on
the working stock of the company in case of default. (Hear.)
Mr. SPACEMAN said that in his case they were about to
appoint a receiver, but then they could only take what the
line produced, which he understood would have to be dill.
tributed over the whole body of adventurers, in which case
the claims of his friends might be put off for fifty years.
(Hear and laughter.) He hoped their funds were not
izvested on such an unsafe security. (Hear, hear.)
The CHAIRMAN said one advantage was that they had
always got their interest regularly.
Mr. SPACEMAN observed that the parties he had
'Ducted to had tailed in principal and interest.
The report was then agreed to unanimously.
On the motion that Messrs. Rumford, Hopkins, Salkeld,
and Underwood be re-ele.ted directory,

A SHAREHOLDER begged to propose the name of Mr.
Baker, of Think, in place of Mr. Underwood.
After some discussion this was negeivd, and Mr. Under-
wood was re-elected with the otu r directors. Seventy
shares were then forfeited; and a vote of thanks having
been passed to the chairman end directors, the meeting
adjourned.

RAILWAY BILLS ON STANDINU Onnzits.—Yesterday
the standing orders were declared to he complied with in the
following cues :—Dundalk and Enniskillen Railway, tor ex-
tension of time u to line between Castleblayney and &sat-
iny, Elting the capital at 406,6001., in 1,356 shares, at 301.
each, exturguishing 1,440 shares, with power to borrow
one-third part of the *mural of the capital. The Glasgow,
Kilmarnock, and Ardrossan, for extension of time, abandon-
ment of works, and reduction of capital. South Stafford-
shire, for power to le--se. The S.-lect Committee of St toiling
Orders, to whom all casts of noncompliance from the Courts
of Examiners were referred, report that the standing orders
may be dispensed with in the following cues :—West Corn-
wall Railway; Cambridge and Shepreth Junction Railway;
Oxford, Worcester, and Wolverhampton, and Birminehent
and Ox ord and Great Western Railways; South Waite
(No. 2) Railway ; Shrewsbury Ilereford Railway;
Exeter and Crediton Railway ; and Eastern Union Railway.
VICTORIE DOCKS (OPPOSITE Wootxtut).—Yesterday
the standing orders were declared to be complied with by
the promoters of this measure, for the construction of a dock
on the north aide of the Thames.

REVIEW OF THE FOREIGN COI!N TRADE

DURING THE PAST WEEK,

(From the Maris-lane Erprest.)

Letters from Danzig, of the Ist instant, inform us that
very little business had been done auxin the week, holders
having asked prices which bluets had refused to pay. The
finer kinds of wheat bad been held with greater &nines
than secondary sorts, and good mixed, weighing data 61 lbs.,
had been offered at prices varying fromMi to per
free on board in spring. Scarcely any old had appeared,
land fine high-mixed parcels of new bad been held at equal
to 395. to dle. per , free on board.
Our Konigsberg 'dykes are also of the Ist February.
During the week a very heavy fall of snow had taken place
in that neighbourhood, which had almost blocked up the
roads, and rendered them impassable for loaded sledges,
hence but small supplies' of corn had come forward, and
holders of that on the spot had consequently asked full
terms, which needy buyers had been compelled to pay.
The best high mixed wheat was then quoted 365. Gd.; mixed,
335. 6d. to 351. Gd.; and red, 325. per qr., tree on board in
spring. In quotations of other articles, net the slightest change
bad occurred.
The reports from the lower Baltic ports are certainly of
a more subdued tone than of late, the want of English
orders, and the progressive fall in prices, having caused spe-
culators to pause.
Stettin 'deices of the 3rd instant inform no that the dis-
position to buy had in a great measure subsided, and that,
though sellers hail resiste I any decline of impatience, the
tendency of prices bad he en downwards.
At Rostock, on the 2n.1 of Fi bruary, the value of wheat
was nominally the same as on that day sennlght, but a con-
siderable falling off had taken place in the interval in the de-
mand. Good b2lbs. to 63Ibs. wheat was quoted 3-is to 365.
par qr. free on board in spring, but no inchnstian had bee n
shown to buy at the prices named.
The value of the article was about the same at most of the
other ports from which we are in the habit of receiving the
growth of ?Sethi( nhurg and Pomerania, but there was less
confidence in the trade generally, which circumstance we are
inclined to regard as the precursor of a decline.
We have letters Isom Hamburg rice Ostend of the
4th. Since the Ist instant a rapid thaw had been ex-
perienced, and it was the prevailing opinion that the
ice in the Elbe would soon be broken up. The con'inued
dull accounts from hence had not been without influence,
' and holders of wheat had become nave anxious to realise.
So few transactions for shipment had, however, taken place,
as to render it difficult to determine the exact prices at
which purchases might have bees nude, in which p
of affairs quotations had ressisiaell eosainally unaltered.
Free-on-board offers from the Baltic had rather increased,
but at too high limits to lead to lewdness.
AS Antwerp, on the sth of February, the wheat trade was
t very dull the supplies having proved more than equal to
l the load demand, and no purchasers for export haviiig come
forward, tine &fibs. red Louvain wheat was thin freely
offered at 37.., and 61 to 62:b.. Antwerp at 35e. 6.1. per qr.
free on board. The Seheidt was open, and there we amm-
o quently no impediment to immediate shipments.
! In the French markets very little change appears to have
weaved la priers; but notwithstanding the discouraging
; date of the trade here, shipments of dour were still being
made to England.