The Express.
London, England, 1850-06-27 00:00:00

LANCASHIRE AND YORKSHIRE._

The committee of cousultatiou have published a
report, in which they say :
The following is en estimate of the total preference
charges a. thee will stand on the completim of the line
Chief rents, absut 6,501 per annum; mortgage interest,
say on 3.301,0001 at 41, 157.6001. per annum; Prefueuee
Divileods, sly on 1,067,0001 at 6 and 44, 68,7601. p4r an-
num. lewd Lines— Norti Caton, 34 94ths of totel amount
or 32.4331 per annum; Preston and W)re, two-thirds of
total amount, or 36,0001 par annum ; Sheffield, Barnsley,
and Wakefield Railway five per cent. on 200 0001, or
13,0001. per annum. Total, 3;1,1834, less, rents for cot-
tages, receivable by the company. Which, with the
deduction of working expenses and depreciation fund, from
the total puls'ish.si revenue will afford a ready meals of as
earrainiog the probable rate of dividend. Your monmittee
believe mat your affairs are now is each a condition
that the most rigid unseemly is every department
ie necessary to ensure eyes a very small divi-
dend ; and that it the principle of fair promotioa,
when vacanci, a occur, were steadily acted upon, a consider-
able redaction could be effected in the amount of wages Paid,
without ultimate diaadvaotage to your servant.. They Mee
made full Inquiries from your superior officers as to the
average load per train, and the result would suggest that the
number of train., particularly in the goods department,
should be greatly reduced, and that arrangements should be

mode with elker eseepenim in •as. lb mimeos far ale ony
be, fall loads. Year thefin eke to septets Pa
that so shesid be Warred
esidings, dregs, Ma., for adjegaing uall-owners ; mid
that t warehouses whisk have yet to be built should be •
he the transit of geode esdy. They trust that, in time,
ether ea.panir who bails wereltenntes for stores,
will adept the pis= eherging a stereseeat, and thud
pia ollinothiog for ens dividend, sad at the seine tints
foliage ethers front expindisg eatited ler sa oldest sever
rosilleMilalled by either. It unsaid be, • develimies of duty
am to Noes that they do sot look with selsidsmes to the
fat
sro pommity ot the Ltheashire sad Teton Ea&
way Climpssy wader its presses system of nesesiessest.
The mat masons of this wiesmay have for • osesidevalds
period bees vested in ma ea einamittec, sossimiserii
Mama Members, viz. William 8 oars, Esq., of Liverpool,
&malt Madams ; Wary Roaldowertl,Beq.,el Manchester;
Robert OW. Seq., of itmakeeter ; Gomm Amiertes, E.q..
of Cleelthasesa vJohn Crestkwaite, E.g. of Liverpool (re-
tired); H. W. Malmo, Req., et Yakima; and Capues
Laws, • paid dimmer. With the exception of little mere
thee fon, meths, when the chair wee osespied by Mr.
Wickham, there bar bees se chairmen of Ml-
pay since Mr. flouldsworties resignatios is the
1848. lb. board ei direeten have met only ones a
swath, and as they have been little ceanimat of the
promsdings of the executive siseaminee, they have bees
merely, as it appear to year SONIIMANSO, a belly to retest
and maisios the acts of the easentivo-ohnving bad reepoon-
billty without seatret. Tau the Mialenellet by an mem—
aim mounitteo bee Mosally toiled the posesdposition el the
eeeireay &ford., ushappdy, abundant smidgens. The im-
portant gaieties seism, what shall in future be the system ?
and your committee, alter meek consideration, have deter-
mined to state what appear loan* to be the principles me
which the futon system of isaaagenaentsbudel he hued. Is
a matter asp great importune, your committee considered
it better that isdividuals should mould themselves to the beet
plea, rather than that ts. plan should be moulded to snit
individuals, end they /mow of no drama:awes at preset,
existing to provost you Cr,. enterieg fully into the whole
merits of this qauWine and prounacine a decided opinion
moos thelmanner iawhiek you wish your affairs lobs emiducted.
They an of opinion that the director, should coed.* them-
melee' to duties principally of a deliberate eltanietn; and
that • dieting' line should be drawn between the deliberative
and the executive functions of management; and whin
they cannot approve of may director interferiag in the
ordinary management of the company, far Ica would they
sanction any servant sitting at the board, erten hie own
acts and personal conduct may frequently bran the proper
subject for discussion. This is a point to which their atten-
tion has been frequently directed, end they have always
come to the coaclusios, that the best and simplest course is
to maintaut all the aesthete of the board oo an equal foot-
ing, each taking en equal share of responsibility. The
beard will decide upon the departments into which your
affairs may with advantage be classified, but u there can be
no doubt that some iadividual should penile over and be
responsible for each department, so it seems to your com-
require to be even more neesesery that one individual should,
under the board, superintend and direct the whole. All idea
of carrying on the executive or daily business of the company
by ay committee is quite at variance with their views.
Your committee cannot avid alluding to a memorial which
has been presented from some shareholders to the directors,
secommeeding that the future management of the company
should be planed in the bands of three paid directors, the
board meeting once • month to confirm theS proceedings.
They feel that this would be, to a great extent, a continua
tion of the system of management now unsuccessfully pur-
sued ; and lu the conviction, that if adopted, it would prove
most prejudicial to the interest& of the company, they
strongly express their disapprobation of such recommends-
dui. The executive management should. in the judgment
of your committee, be vested in paid servants responsible
to the Board, one of whom named secretary or manager
should Dr head officer, and if possible the payment of each
responsible officer should be on the principle of a moderate
fixed salary, with • percentage in addition on the dividend
declared by the Company ; for dimple, assuming services
by exertions to be ummately worth 5001. per annum, 2001.
might be p rid as a salary, and 1001. for every one per cent.
of dividend declared by the Company, taus Riving the
officen • direct and positive interest in h.creasing your profi•.s.
Your committee are farther of opinion that, under present
eireunistauts, it is desirable that other sairehoiders than
those who have so long been the eatosinistrators of your
affairs, should be assoceated with some of the present three-
ttn in the management; that no director shou:d b • in ar-
rear of calls at toe closing of the books prier to each half-
yearly meeting; and, on account of the onerous duties of
the office, it is hoped that any director who cannot pledge
blench to devote unremittingly the due portion et time,
will at once retire. But whatever be the course which
the shareholders may adopt in reference to the management
of the company, your committee earnestly recommend that a
decision should on this important nine be at once tak.n,
in order that the present no solve working expenses may
be forthwith greatly reduced, the management strengthened,
confidence restored, and then :tended interests of this great
unitertaking vigilantly promoted."
The report is sign-d—Richard Atkisson, William Duolop,
William Rawson, John Br. gden, William Evans. •