The Express.
London, England, 1850-02-26 00:00:00

ROYSTON AND HITCHIN.

Yesterday the eighth half-yearly general meeting
of the shareholders In this eompany was Uhl at Hadley s
Hotel, Bridge•steeet, Blackfriars. Mr. W. WMBIIIIIII pre-
sided.

The SECRETARY read the report, in which the direc-
tors state that, notwithstanding their 'Sou, they have been
unable hitherto to carry maths arrangement for leasing the
line t. the Great Northern Company, but they express •
hope that they will be in a situation to apply, in the course
of the ensuing month, to the Railway Commissioners for
their artificial*, preliminary to the execution of the lease.
With regard to the Shepreth extension capital, they state
that as it has been all allotted with the exception of a few
shares, instructions have been given to purchase the land
necessary for the construction of the extension, and steps
will immediately be taken to let the contract for the works,
and to urge their completion in the shortest possible time.
.The financial sheet showed that 158,6041. had been re-
stive& mad 123,6054 expended, leaving a balance in hand
of 34,9991.
The report was carried unanimously. The retiring audi-
tors were re-elected ; and, on the motion of the ch irman,
the seeretszy's salary was increased 601. per annum. A vote
of thanks to the chairman closed the proceedings

WILTS, SOMERSET, AND WEYMOUTH.
Yesterday the tiuth half-yearly general meeting of
tha shareholden In this company was held at tie White
Lion Rotel, Bath. Sir John W. Awdry, in the chair.
The SECRETARY read the report of the directors, in
which they stated that taking advantage of the nnanimiti of

feeling existing between them and the board of the Great
Western, they had determined in order to avoid all risk of
litigation, to carry the original intentions of the companies
into effect by as arrangement of so simple a character as not
to admit of dispute. It was proposed therefore the* under
the powers of the company's act of incorp .ration, a sale of
the undertaking, se it new stands should sopersede the
agreement to lease the line when completed. The condition
of psyment would bean annuity charged upon the under-
taking of the Great Western Railway Company, and equal to
4 per cent. upon the share capital actually paid up by the
shareholden la this company, with a right to a contingent
income as provided in the existing agreement. The right
pertlelpateso ln future creations of shares by the Great
Western Railway Company, which might possibly become
valuable hereafter, was not affected by the proposed terms of
sal*, but remained in fall forte. By the sale, therefore, of
the line to the Great Western Railway Company, the pecu-
niary right' of this company would not be varied, but their
assertion would be simplified; and the measure having been
to by the Great Western Railway Company, the
ril:!tdors recommended that it should receive the assent of**
shareholders of this company also, at the special general
meeting Should this be obtained, it would be the duty of
the directors to ex. cute, at an early period, a conveyance of
the line and such other deeds as they might be ar:vised ; alter
which the undertaking, with all its towers, rights, and
liabilities, would be transferred to the Great Western Rail-
way Company, and the board thenceforward only tint for
the purpose of dividing the annuity among the shueholden,
and for other formal business.

The audited general et dement of receipts and payments up
to the 31st Dee., 1849, which was al‘o read by Capt. O'Brien,
showed the total receipts to have been 1,233,0741. 12g. 4d.,
of which 1,198,5851 bad been received en calls and payments
is advance. The total expenses had been 1,230,3431. si. ld.,
leaving a balance in hand of 2,7311. 7s. 31.
The CRAIRNAIN moved, and Mr. BOURN seconded, the
adoption of the report, which was carried unanimously after
some conversation.

The CHAIRMAN then proposed the election of William
8 yap Wait, Esq., ea a director, in the place of Mr. Long,
retired, and also the re-election of Col. Olivier.
The motion was carried unanimously
The mewing then resolvet itself into an extraordinary
general meeting.
A list of shares recommended by the directors to be for-
feited was submit•ed to it* meeting atd confirmed, and
' the shares ordered to be sold, noises the defaulters paid up
the calls with interest and expenses.
Capt. O'BRIEN then read the heeds of the agreement
far the sale of the lime to the Great Western Company, and
it was resolved that it should be forthwith carried oat,
after which the meeting separated.

WATERFORD, WEXFORD, WICKLOW, AND

DUBLIN.

Yesterday, the half-yearly nSeting of this company
took place at 449, Stroud; the Earl of Couurows in the
chair.

Oa the motion that the seal of the company be affixed to
the register, several .4 the proprietors objected to the pro-
needing, insisting that they should be allowed to inspect the
document in the first instance.

•
The CHAIRMAN said he must proceed with the busi-
ness in the regu:ar manner; and the first thir a to be at-
tended to was the ad, ption of the r pert. lie therefcre
called upoa the secretary to read the report, which was u
follows:

The directors of the Waterford, Weafurd, Wicklow, and Dublin
Company have to report to the shareholders that, in pursue/we of the
resolution adopted at the last half-yearly meeting, approving the re-
aommendations contained in the report thesi presented, they have
eaued a bill to be preprred embodying the substance of these recom-
mendations, which bill has passed standing orders, and been read •
first time in the House of Commons. The directors exceedingly re-
gret to find that there still tants among a portion of the ahareholden
• disposition to thwart sod embarrass the board in their prosecution
of measures which have been conceived and adopted with • conscien-
tious desire to benefit all conternod, and with a sincere cone-inks
that they are the best which circumstances permit. They sre
wiling to believe that such opposition or obstruction, proceeds mainly
from a ml under at andieg of the exigency of the case, and of the pod-
tion in which the shareholders are placed. It is not by dissention that
diflacultin n• be overcome, and evils remedied. It is precisely in
adverse times that cooperation and uaion are indispenstble. With
the aid and support of the proprietors, frankly given, the ()Andorra
have a confident hope that the aftssin of the company may be, if not
altogether retrieved, at all events, materially improved; and
they appeal to their good sense, so well as their good feel-
tog, whether the coune which tome of their body hare
thought it right to pursue eon be otherwise thn rots-
aneroid to therowlres, and disaatrutts to the ands [taking.
Ito object which the directors hare in view is, to oak the sanction
of parliament for limiting the line to toot portion which may be con-
fidently expected to prove remunerative; and, In so doing, greatly to
reduce the burden and Whiny which now presseson the shareholders.
The opposition to tins course, If enceesful, would greatly augment
the ()Acuities of the board, without ultimate relief to the proprietors;
and if, unhappily, the efforts of the directors should thereby be ren-
dered abortive, they will have no alternative but to proceed, in the
strict ()recharge of their duty, to tact ute the works as originally con.
ti iodated, and to enforce the payment of the subscriptions in full.
Bow severely this would press upon the Phareholder, it is unneeeeeary
to suggest; and the director* entreat thosenmon whom the pressure
would fall, not to sufiar themselves to be deluded into a brief that
there Is any escape from their legal liability to the payment of
With respect to the provisions and details of the bill itself, the direc-
tors do not purpose on this occasion to ask for any aelnite opinion or
decision of the shareholders. When the proper time arrives it will
be submitted to • general meeting, specially converted for the purpose,
when the sense of the proprietors will be regularly taken upon it. The
directors deem it almost unnecessary to warn the eharebolde, against
statements occasionally Inserted in newspapers, or embodied in circu-
lars, issued without anthority, respecting the again of the company,
that are so obviously mischievous and unfounded.

From the staument of receipts and payments to the 31st
of December, 1849, it appeared that the former (including a
total of 144,1664. 16s. to the 30. h of June, 1849) amounted to
141,3961. 16.., and the latter (including the expenses of the
act of incorporation, and other large item., dated to the 30:h
of June) to 140,4001. 18a. 3d., leaving a balance in hand of
3,9951. 17e. 9d.

The CHAIRMAN proposed that this report be received
and approved of, and printed for circulation amongst the
shareholders.

Tne H n. F. POSSONBY seconded the motion.
Major COURT said the report contained a threat to the
shareholders which he considered very objectionable, and not
only objectionable, but contrary to the Lct. The directors
were bi nod to give all the information in their powt r to the
shareholders, with a view to enlighten them as to the state
of their property. He wiehsd to know the amount cf the
debts—the liabilities of the company ?
Mr. DIUGGERIDGE, the recretaly, said they were set
forth in the balance-sheet now before them.
Major COURT (to the directers)—Have you entered into
any contract which you are unable to fulfil by means of the
cash in your cossession ? You tre directed by the low to
provide us with a statement of the liabilities of the company.
Mr. AMOS slid that, as chairman of the dissenting com-
mittee, he called upon the directors to produce the writtea
balance sheet setting forth the amount of the debts of the
company.
Several proprietors, following up the remarks of Mr.
Amos, insisted on the production of the balance sheet, and
after 10/113 further discussion the secretary acceded to the re-
quest. It then appeared that the debts due by the company
tor land purchases ware " assume I " to be 17,0001, and the
amount due for works, parliamentary expenses, At., was
15,0001.
Mr. AMOS inquired what contracts the directors had
eatared into ?

The SECRETARY replied that no new negotiations hod
been entered into.

Mr. AMOS—What are the namee of the prevent direcors?
The SECRETARY announced that the direction con-
sisted of Lord Courtewo, Lord &Word, Lad Villare, the
Ran. F. Ponsonby, Mr. Stephen Lewis, Mr. David Lewis.
tiir Thomas Esmond', Mr. W. Mathew', Mr. Barlow, and
Mr. Jas. Alston.

Mr. AMOS—What b the number of the shams?
The SECRETARY declined to answer the qu.stion.
Mr. AMOS—When were they appointed directors
The SECRETARY—At different periods. That is the
best answer 1 can give you.
Mr. AMOS wished to know what was the nature of the
arrangement the directors had m►de with the South Wales
Company as to the 11,200 shares which they bed taken in
the present company.
The CHAIRMAN said they bad paid their culls, fiat no
. •
part'