The Express.
London, England, 1850-11-22 00:00:00

MANCHRthER, Novembor 21.

STOCK Excesaxon.—Prices eonthss• flees, gad, in INN
of the favourite stocks, ere still resin. Sheffield@ opened at
22, end were done at se high ea 2311 ; end therm was a brisk
demand, sad a considerable amount of beslnsee effected.

LEEDS, Noverrobar 21.

Broca Emmamos.—Timm has bees as lambast* murk*
this morning, though the quotations is the sales effected do
am vary materially from those of yesterday. Bales: East
Leseashire, 911.—Lee& Flf h., 71 dia—Sherffeld, Rother-
ham, and Gemie, 184.—North Westerns, 131 die.

BIRMINGHAM, Noveinbfr 21.

81.00 Z EICHANOIL—Mikr• wa again ft marked 1016166,9-
seat in this market to-day, lurchuere for lavistawat in
railways gradually tecreaateg. Bifilldftital dad /46,
Volleys were doe* at 101; Beektagbetasbtria at 171; Meth
Staffords at 91 die. ; Shrewsbury sad Birmitighsa stl at 61,
ei, 61, 6641 6 di. ; sad B. at 61, di, add 6 di.

TALLOW .MARKET...-SlUil DAT.
Tim
Few.rosafwavw7 doll st tin saaszed grandma.
Teen. assajdssabSalsquiry for delivery la the
Vi Tan Tallow la worth Xis. ed.; Pianists(
es Dec M. ea. ; the )sar, 375. Jas.,
TA, •oil WU* M. U.

COTTON MABBET.—HAvio. Nov. 21.
At ilta *Sea warket to-day boas= a..plum rtao•
oated.ia the donor of OM.. [avowable or unfavourable
adviser.= to 2 teeiciek ably 62 bale& Priem woad-
..lly . Vas ordimino_, New Orissa., 117 f. 60..
Arrived, * Gersardo, hut Now York, with 2,409 ham
efeselsa. 1.3

,j 1

pE:o to

[THREEPENCE.

LACASHIRE AND YORKSHIRE.
A meeting of the holders of fifth-sbares of this coin-
rtay was bald yesterday afternoon, at the Freemasons'
Tants, Great Quea•street, for the purges' of hearing a
statement et the negotiations between ,he general board of
direeton sad the ODlMllattlt• appointed by the holdirs of fifth-
shares to wan* ever their interests.

Mr. VANCE oceupted the chew. He proceeded to expiate
to the muting the circumstances under which the committee
had considered it expedient to call them together. At a
meeting, held early is September last ,it was agreed that the
claims of the fifth.sharsholden should be settled, and for that
pupae he himself and a few others were nominated as a
Committee to treat with the board of directors on the
subject, and a etiolation was passed, by which the director,
were requested to call a meeting on or before the lit of No-
vember, to communicate the result of the negotiations.
The first difficulty the committee had found, wu an Gbjee.
don ea the part of the board to treat with them, in cones-
queue of the castanets of a legal doubt as to the validity of
Moir own eludes. A asw board was, however, legally con-
stituted, and a deputation from its member, appointed to
treat with them. After various futile attempts to procure a
MN favourable cennourtnise, the committee of the directors
proposed that the 101. paid on the fifth abates should be
capitalised at 9/. ; that they should receive dividends at the
rate of 4 per sent. from the Ist of January next,
and that all wears of dividend should be elven up. This
was agreed to, with the provision that the It. 10s. already
called should not be enforced so long as the company cantle
mew or borrow the mortgages at 4 pt rant.—the filth share.
holden to have rateable dividends as soon as the company
should have paid 4 per cent. for two consecutive half yeses.
This arrangement, far leas satisfactory than they had ex-
pected, was considered to be completed ; but, to their utter
astonishment, they heard nothing more on the subject
officially, excepting that when they had written to the di-
ms:ton to call the meeting appointed to be hold before the Ist
el November, when the emit Otto negotiation wu to be
made known to the shareholders., the law-agent of the baud
informed them, according to Instructions, that, u the ne-
gotiations had led to no rush, the dir.ctors cooceived the
spirit of the resolution to be that no special meeting ehould
be called. The call of 11. 10s. per share was appointed by
the directors to be made on the 5M December, so that twenty
were they deprived of their dividends, but they were called
upon for more money to pay off their mortgages, and that
without receiving a puny in return. He thouget, therefore,
that they were bound to take steps to prevent this cell heing
made, The board had a reserve fund of more than 18,0001.,
sad, instead of pub,' them out lilt, they took opinions of
counsel upon the master, and one of the directors had said
to
p.h
imuetsh autin epyomi ggh :ha a.
fifthe rel
sit:Let
hh
Qe money
TinhoPsoliyianirgmlaZ
then alluded to such suits as were going on in Chancery, and,
as the present subject of dispute must also be decided, they
had engaged the services of /drum Johnson and Weatherall
to conduct their Me. Trey had, however, given the proper
notices for an application to parliament to explain and
amend the act relating to the filth shareholders, by which
he hoped the delay and expense of trying their case is
Chancery would be ay.ided, and a more certain means of
obtaining Jager* afforded to them. (Applause.)
Mr. SCOTT, who acted as secretary, then read the official
letters, which related to thole attempts at negotiation, and
expatiated upon the false position in which they had been
pined by the conduct of the directors.
Mr. COATES, a member of the committee, after a few
preliminary remarks, proposed a series of resolutions, which
were to the following effect:
" That the rejection by the board of the terms of compro-
mise entered into between the committee appointed by
themselves and the committee of the fifth shareholders, and
their determination to lavish the fonds of the sampan, in
li:igation, are an open violation of the wishes of the propri-
etors expressed in the resolution of 4:h September last, are
iejurious to the company, and oppressive to the fieh.share.
holden. That the coostruction put upon the constitution
of the fifth-shareholders are incompatible with the avowed
icteni ions of the company at the time of their creation, and
with the language of the act of parliament under which the
shame were created. That, in order to prevent the cunfis-
ninon of more than a million of money, contributed oy
the fiftb•shartholders towards the tuuds of the company.
this meeting approves of the following COl.lllO of
proceeding, namely—That the adjourned meeting of
shareholders ordered by the resells' ion of the 4th September be
required to be convened. That the payment of the cal of
11. 10s , now made en the 6th of December, should be re-
elated. That this meeting approves of the application made
to the Court of Chancery to restrain the payment of any
further demands to the company at large until the claims of
the filth shareholders are adjusted and their dividends m-
etered. That all other necessary proceedings be adopted.
That application be made to the legiasture for redress, and
that subecriptiocs be forthwith received for the payment of
the cemetery expenees."
Mr. KNOWLES seconded the motion, which was carried
unanimously —A vote of thanks to the chat:min terminated
the proceedings.

MARYPORT AND CARLISLE RAILWAY.
Oa Wednesday, as extraordinary meeting of the
shareholders in this company .00k place, at klaryport, when,
after a long and stormy discuuion, the following raniletions
were adopted unanimously;—
"That the report of the Committee of Investigation be
revived. And that, in pursuance of the recommendation
therein contained, and by Thum of the act of 1813 (6 bt 7
Vie., cap. 70), empowering the company to Taira the capital
sum of 117,9461, which power has already been exercised to
the extent of 34,0251., there be now raised the further sum
of 83,9211. by into of char, s of the value or denomination of
121. 10s. each, such shares to entitle the holders thereof to a
prior or preferential dividend of 41. per cent. per ►nnum
Info s the now existing share capital of the comps ny ; and
to be convertible into ordinary stuck of the company at the
option of the brides". And that such preferential stares be
allotted at par to thew. narties who have 'inscribed or AO
subscribe for the same." _

" inlet application be made to parliament in the ensuing
✓avioli for an act to authorise the re-issue of fo7S forteited
601. shares of the original stock of the company, on such
terms as a general na, sting of the company shall direct;
'leo to authorise the company to raise by issue of shares of
snob denomination and on such terms as a general meeting
shall direct, or by mortgage, the further capital sum hot
exceeding 60,0001. for the purpoe of covering the execs of
debenture or loan note and fl.ating debt already incurred.
To authorise the reduction of the board of directors to any
number not exceeding seven. To empower the company to
take sp additional lend at Maryport for increased terminal
accommodation there. To mak,: en extension of the line at
Carlisle, for the purpose of going into the Citadel Station.
And for such other powers as may be found requisits."
That Messrs. George Saul. Gilfrid W. Hutley, and
George Hill Hominy, be elected directors of the Cork any
in the room of Memo. George Cowan, Robert Conan, and
Thomas Coslthard Heysham, now retiring by rotation."
"That the board of directors having assented to the
appointment of a more limits ! directory under the vwers
of the proposed new act, they be ri quested now to delegate
to a special executive committee, to consist of Messrs. Sen.
house, Dykes, Harrison, Saul, Hartley, Moonset?, and Ostle,
the interim direction and management of the company,
until the powers of the new act shall come into operation;
upon which event it is to be understood that the whole ■re
to resign, ma the directory to be reconstructed according to
the new set.•

WINDINO-UF THE OXFORD, WORCESTER, AND
enemas ruction ItAltwar.—Yesterday, at 12 o'clock,
the settlement of the affairs of this company was opened
before lee Honour Bir George Rose. From the report of
Mr. Tailwind, the official manager, it appeared that the
public applications for shares on this lie. amounted to
204,0001. Oat of the share capital of 100,000 shares, only
41,770 were allotted, which included 10,660 to the minthen
of the committee of management, but deposits to the amount
only of 16,0001. were paid, the greeter part of which was
spent in preliminary expenses. Anther/et the books and
papers of the company has been found a document called '• a
otheme," in which the " eeeee tee" to be allotted among 107
of the proeidonalosenneittee were put down at 160 shares
each ; for 16 of the managing committee, 600 shares ; chief
promoters, 3,000; and a special " reserve from the public "
of 30,000 shares. It is new sought by the official manager
to charge each of the provisional and managing cenimittet
for payment of the deposit on as many of these shares as they
appropriated to themselves by this scheme, wish* it appears
was entered in the minutes, and acted on by the committee
of management, the Initials of whose names it bears. A re-
solution was passed, Halting the number of the first allot-
ment to 100 shares, and stating that 150 should be reserved.
Mr. Cairns, counsel for the official manager, eonteeded w.on
these grounds that Mr. Peter Morrison, chairman of the
allotment committee, and who allotted these skarn to him-
self and among his 00-direetore, ought to be held liable. His
Honour, after hearing the evidence, and Intimating that it
made oat a strong cue for making that gateman liable,
said he Would take time to consider. The that of the list
contains the Comes of about 200 pewee who paid the depo-
sit end signed the deed, or
of shares not included in it.
onitaildr the termer. the
Rem anomie
The °Metal manager, on be o the shalaingdm,
santende that the ' reserves of shares" wee afar,
lad that no atiaaploita allotment was oonsequently mr souk.
sou PASTERN RAILWAY.—ASHFORD AND HAS.
TINGS BIANCIE.—A great number of men are now employed
la removing the slip ear the Mount Pleasant tunnel, which
has been the cam of the delay in opening thin Ha. It is
expested that the whole of the e:ip will be removed, the
tat- relsdd, dad the tine open for traffic in the course of
three weeks, with erdiesey weather.
HoLTHWAD.—RAILWAY ErTNNSlON.—Application
will be made hi parliament next sesaion;for an set to authorise
the easetrutiou or extension of a railway km the tandem
et the Chester and Holyhead railway tp the pier in the har-
Mar of Holyhead ; and the customary aides ere in "wee
wripahlication. The prereed eztessies will eameeesee
Giber tin, Sr daily adieelrni igh• Feast stales, and,
rag aka. the Ahem of the haebeer, will ieweelaste upon
he the lighthouse. Theme
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