The Express.
London, England, 1861-02-23 00:00:00

THE EXPRESS, SAT URDA Y EVENING, FFERTIARY 23, Hifi..

LONDON AND NORTH-WESTERN RAILWAY.

After our report left yesterilay, she report wan
received, the word " adopted " being, at the sug;cstion
el a shareholder, omitted.
A SHAPJCHOLDIR inquired whether the 2,0001. which was
voted to the Marquis of Chandos as chairman would be con•
tinned to the present chairman?
The rum RMAS—Not unless the proprietors vote it.
Mr. PRICE, who stroegly deprecated hostilities with the
North Eastern Railway, which was ready to afford every
facility to the North Western fur the exchange of traffic, I
moved a 111144ution repressing disappointment at the results
of the past policy of the company, and disapproved of the
negotiations entered into with the Manchester and Sheffield
and the West Hartlepool Railways, and deprecating the
company being committed in the manner proposed.
Mr. ENTWISTLI seconded the resolution because no espla-
nation had been given of the data on which the negotiations
hall been entered upon in the first instance, nor any assu-
rance given that those negotiations would not be renewed.
The Cusinese believed he was right in putting upon the
resolution this construction, that it was a direct vote of
went of confidence in the directors. He was quite willing
to go into an investigation. With any body of gentlemen.
' shareholders in the company, possessing a large interest
in it, he could have understood it, and gone with it But
after the passing such a resolution as this, he did not see
how any lyolly of directors could hold their seats for an hour
; longer. The first proposal
~ for the negotiation in reference
to the Sheffield and M heater, did not come foam this hut
from the other company. As to the North Eastern, they
had nut hitherto afforded those facilities for traffic which
was required. Complaints had been made of not forward-
! Mg on the Leeds through traffic, but until the Derwent
Valley scheme w.ot whispered about, no inclination was
shown by the North Eastern to meet them. He should be
glad if he could now be assured that the North Eastern was
really desirous to facilitate the North Western traffic.

Mi. PKIOE had not intended the resolution uau expres-
sion of no confidence.

Mr. WiltiLET thought if they could not express their
opinion in the ,ray now proposed as to a policy which all
objected to, they were powerless, and might as well stay
Trre, M.P., was not prepared to go with a resolution
the results of which must be the immediate retirement of
the whole board, and the eoilengenng of 31000,000 f. of
property. He thought it would he better to modify the re-
solution as suggested by the chairman—that was, for the
appointment of a committee to confer with the directors.
Mr. MottoAN could not look Oil the resolution as a vote of
want of confidence. . . .

Mr. CROFIFIELD (auditor) strongly deprecated a resolution
which must seriously injure the interests of all the share-
holders. The directors were not at liberty to explain pub-
licly all the circumstances aml reasons which Lad induced
the negotiation, but were willing to meet • committee ap-
pointed by the shareholders, and give to them every expla-

Yr. Cmtrwmb could not acquiesce in a vote of censure
upon a board which he believed to Le one of the most ho-
nourable in the world.

Mr. Tree, M.P., moved an amendment that a committee
be appointed to confer with the directors on the general po-
licy of the company. the rate of expenditure, and the best
'nide of increasing the dividend.
Mr. RHODES seconded this.
On the question being put, the amendment was lost by
87 votes against 82.
Mr. CROSVIELD demanded a poll, which was appointed to
tali plea the same evening and to-morrow morning, the
rotate to be reported to-morrow (this day) at noon.
Mr. Price, who bed been appointed a scrutineer, said
Ito could not attend to-morrow ; and knowing that the
directors held proxies sufficient to override the decision of
the meeting, he would withdraw the motion, contenting
himself with the almost unanimous opinion of the meeting
which had been elicited adverse to the policy of the hoard.
Mr. &crier:cu, the seconder, after some hesitation,
agreed, and the demand for the poll was withdrawn.
The dividend, at the rate of 2/. 125.81. per cent. for the
half-year, was then resolved upon ; and two formal reso-
lutions for the appropriation of capital having passed,
*tura Ashton, Clemente, Hint, and Moon were re-
elected directors. _ . .

Mr. fir 7,31711.. proposed Mr. Brumley-Moore to fill one
of the two vacancies in the direction.
"• • •

Mr. YOUNG proposed Mr. Melville, and as the other can-
didates withdrew or were not put forward, Messrs. Braniley-
Moomi and Melville were elected.
Mr. eitomium was re-appointed auditor.
A vote of thanks to the Marquis of Cliandoe, for his
sealous attention to the interests of the company while he
filled the office of chairman, was proposed, seconded, and
carried by acclamation.
The usual compliment was then paid to the chairman,
sad the proceedings, which had extended to within a few
minutes of five hours in duration, was brought to a close.

SOUTH WALES RAILWAY.

The half-yearly ordinary meeting of the South
Wales Railw►y Company was held at the Great Western
Hotel, Paddington, yesterday ; Mr. C. R. M. TALBOT,
ILP., in the chair.
The report was unanimously adopted ani the dividends
declared, no seconder being found for an amendment. The
retiring directors, namely the chairman and three others,
were reelected, after an effort made by several shareholders
for the election of Mir Francis Head to one of the vacant
seat■. Mr. W. Anning was re-elected se an auditor.
Before the meeting separated, Mr. Brace announced. as
qualifyieg his complaints of the bed working arrangements
between the two companies, that certain terms had just
bean agreed upon, which might have an advantageous effect
on the traffic.
. . . . . .