The Express.
London, England, 1850-11-05 00:00:00

WINDING UP OP JOINT STOCK COMPANIES.
MASTERS' COURTS IN CHANCERY.
Yesterday being tits first day of aotual business
in these courts, they were unnotally crowded by members
of the proknion, and by contributories and others connected
with the precise of winding-up of the various railways ant
joint stock compulesk upwards of 120 of which in number,
oe 12 to each of the 10 masters in Chancery, are now under
the creation of the act.
BASTION COMITIES JUNCTION AND SOUTHIND BAIL-
wAY.—Tbe cue for the winding-up of this eimpany wu
opened by Mr. Ewart before Master Sir William Horne.
It appeared from the report of the official manager, that the
company was started in 1846, and two prove:gases issued
one in May and the other in September of that year anti
in the following December all proceedings had been im-
pended; that the deposit of 21. 12e. 6d. per share bad been
paid by but few allottem.—The Muter decided on adjourn-
ing the ease for a fortnight, in order to give all putii a an
opportunity of examining the books and documents.
Dauer BAIT AND West JMNcrrox RAlLwAY.—Yeg-
ttrday his Honour the Master in Chancery F con-
firmed the appointment of fir. Jay as official manager, to
investigate and wind up Ibis company's affairs, upon the
petition of the shareholders, who state that the project was
for a line from Kidderminster to Hereford, with a capital
of 800,0001., is 40,000 shares; deposit 21. 2.. ; 400 shares
being reserved for each of the provisional directors, who
received between 18,0001. and 10,0001. by way of deposit from
the .hareholden. The acting directors were Sir W. Wynn,
Sir George Prescott, Hon. Leicester Stanhope. J. Cumber-
ge, J. Clarke, Col. librington, N. Clutch, Aldermen H.
Hughes, S Hamer, W. D. Johostone' J. Keene, H Mete-
' yard, Major Waller, A. M.Morrin,!.7. Stevenson, and T.
Robison.. Instead of winding up the affairs, as wished by
the shareholders, they entered without their sanction into
an agreement with the Derbyshire, Staffordshire, and Wor-
catershire Railway, for " amalgamating " the Direct East
and West Junction with it, the funds of the letter, in re-
spect of such alleged agreement, to the extent of 10,7001.,
being handed over to the directors of the Derbyshire and
Worcestershire. There are several debts and liabilities, tail
the funds so transferred, if recovered from the directors, will,
it is expected, after payment of all clam', lave a large
surplus for dividend among the shareholders who paid the
original deposit.
BASINGSTOKE CANAL.—Yesterday a 1211111entill meeting of
the eheteholners was held at the Gray's-inn Coffee house,
Holborn, Mr. Davey in the chair, to consider on a eel:paid-
tion hem the shareholders as to a proposed application to
parliament in the ensuing union for the sale or lease of the
canal. A long discussion ensued. On the vote being taken
there appeared 124 shares for the bill and 14 against ; bet,
as 200 'hansom required to be represented to carry any
ore at the meeting, the propo.ition fell to tho ground.

GREAT WESTERN RAILWAY.—The directors of this
company, in reply to memorials which have been presented
to them against the system of running excursion trains on
Sundays, state that the trains were established in compliance
with a growing requirement by the industrious classes fur
Sunday relaxation, and that the working of the system has
tended to prove that they have rather promoted a better ob-
meanie than a desecration of the Sabbath by those who do
not wilfully misuse them. That it had been ascertained''
that persons resorting to those trains conducted themselves
for the most part during the Sabbath with exemplary
decorum and propriety. Many who while is Loudon
never quitted their rooms to attend divine service were
known to go to chorch in the :country—attracted thereto,
it is believed, in numerous instances by relatives
or friends, wheys they were enabled to visit by means
of those cheap trains. A decided improvement not only in
the character and habits, but also in the health of the indus-
trial classes of the metropolis, has been remarked as mainly
to be ascribed to the opportunity of change of air and relaxa-
tion afforded by that system. The directors having satisfied
themselves that such cheap trains wen alike beneficial to the
company and conducive to the wilful, of those classes (pecu-
liarly entitled, as they conceive, to every such oonsideration),
thought it obligatory on them to accord the sums fact-
lity to the public as other companies did, the only means of
travelling him the West of England being exclusively under
their control. After a very careful deliberation of the mat-
ter, weighing well the objections urged against such excur-
sion trains as adverted to in the memorials, the directors
cannot perceive in them sufficient pounds to justify the re
venal of their former determination.
WEST CORNWALL RAILWAY.—It appears front an
official statement that the portion of this company's line
from Ferments to Halle, which was originally estimated to
cost 70,0001., can be executed for the sum of 40,0001. The
contract for the entire completion of the line from llayle to
Penzance-pier has 'been taken at 29,1001, and nearly the
whole of the land has bean ;purehued, which, when com-
pleted, will not much exceed 8,0001., leaving the remainder
to meet contingencies, and to provide additional working
stock. There are 12,500 shares on which future calla will
be payable. The directors have made two calls of 303. each
to preside the money for the extension to Penzance.
These will produce 37,5001., which, with 2,5001. to be
borrowed on debentures at 5 per cent., will, it is expected,
be sufficient to complete the extension. It is estimated that
91 'per share will be ample for the extension, and is that
ease the total share capital on which dividends will be pay-
able will amount to 150,4601., and the borrowed money to
36,6001., together 184,9601. The net profit on the Old Hoyle
Railway is stated to be 3,6711. per annum, which added to
6,667/., the estimated net pro& of the new line from Hayti
to Pepianee, will make, if realised, a total of 9,1391., from
which 1,1391. is deducted for office and other expenses, end
1,8251. for interest on loans, leaving 6,1751. to pay dividend
on 16,598 shares, representing capital entitled to dividend
under the recent arrangement with the Hoyle proprietors
of 150,4801., being at the rate of 41.2.. per cent. per annum,
should the estimates pears west.