The Express.
London, England, 1850-08-02 00:00:00

NI

[THREEPENCE.

Ben LANCABHIBB.
The ordinary half-yearly meeting was held on Wednesday
at *siltation of the company, at Bury, and lasted from one
o'clock till half-past six. In addition to the directors' report
a lengthy report was also presented by the auditors. The
main question for discussion was the traffic arrangements
between this company and the Londov and North Western.
t,e Lancashire and Yorkshire. and the Leeds and Liverpool
Canal Companies. Oa this question, after Mr. Thomas
Dugdale, the new chairman of the board, had snored
the passing of the reports and accounts, Mr. John
Grandy (the late chairman), and Mr. Thos. Wrigley (a
late director), both of whom had retired from 'he b Ard in
consequence of thews arrangements, addressed the meeting
at considerable length, contending teat the rival companies
had not carried out the arrangements in good faith, and that
this company ought not to have an arrangement which might
be broken through when all their traffic was abstracted, bat
• permanent arrangement. Mr. Weigh y concluded by
moving, as an amendment, that the report be not received.
—Mr. Blaoklock, a director, said the result of the present
traffic arrangements was to give them nacre money with
lees cost ; and be denied that the other companiu were ab-
stracting their traffic under it. The few cases in which the
Lancashire and Yorkshire had appeared to break faith, were
through the officiousness of servants, and were of a trivial
nature —Mr. Peoria., C.B , made tome statements which
appeared to have great weight with the meeting, show-
ing the great advantages which would arise from the
arrangement with the Leeds and Liverpool Canal Com-
pany. He said he had had access to the canal company's
returns, and the amount of goods train their had retained
in spite of the opposi•isn of this company, where its lines
came into direct competition, was almost past be:ief. The
canal company between Liverpool and Blackburn • d
22,000 tons per week, whilst this company, with a
shorter route, bad only abstract. d 6;200 tons ; from
Liverpool to Aurington they had 12,000 tuns against 2,000,
and from Liverpool to Burnley, 17,000 tuns against 1,900
by railway. This traffic they Lad retained by low rate., sad
L oppealtion.thinitialagonesentnVe.triartoea 411""
where, under an arrangemenseep w• u. be a •to c arge
its per ton. He estimated the arrangemen. would bring
1,0001. worth of additional traffic on the tine per week, and
other proposed measures would make up their income from
3,0001. to 6.0001 per week. The motion was carried, and the
amendment negatived by a Loge majority. In reference to
the preference shares it was determined not to issue them U
proposed in the report, at a diecount, but to offer them *gain
to the aharehilders, who, it was thought, wont: take them up
under the improved prospects of the company ; but if any
shares remain on hand those who have taken on the most
are to have the remainder at a disc3unt. The dividend pro-
posed in the report (equal to 1 per cent.) was declared, and
a vote of thanks to the chairman and board of directors.

THE LONDON AND BKIOIIToN AND SOUTH EASTERN
RAILWAYS —Yes'erday, in pursuance of the act of parlia-
ment for the partition of the existing sestina belonging to
these companies at London Bridge, and for its imm,diate
extensive enlargem-nt, workmen commenced dczno:i.hing
the whole of the large building that hu h.therto fronted the
approach to the railway. It has not yet been determined
wra v sort of building is to be erected for a permanent station.
The cost of the enlargement is estimst-d by the Brighton
Company not to exceed 150,0001. From to-day the two
companies work their traffic independently, and what has
been termed "the joint station" system ceases.