The Express.
London, England, 1850-02-23 00:00:00

NORTHAMPTON AN]) BANBUBY.

Yesterday the half-yearly meeting of this itompany
took plain st the Ruston Hotel, Euston-square, Mr. E H.
Harwell in the chair.
The following report (including the statement of accounts)
wee reoeived and adopted :
, This directors have no additional information to lay
before the shareholders beyond what has been already com-
municated to them in former reports. The accounts now
before the meeting will show the financial mate of the con-
win, and the directors do not think it necessary to say more

ICher that they shell continue to keep the flumes of 1.1"
necewary establahment to the lowest possible execent
meting will probably be aware that a bill has bean intro.
dated into parliament to enable the shareholders in ander-
taking' which are not proceeded with ti abandon their
powers, and it will be for the shareholders in this company
to consider (if such bill shall pus) whether they may judge
it expedient to take advantages of its provisions."
The following was the statement of sezounts up to 31et
December, 1849: To balance stated in account to 80th June,
including/ 18,5611. Is. doe from London and North-Western
Railway Company, 26,9801. 121. 6d. ; to tub and interest
received, 6851 8e 3d. ; to int. rest debited to subscription of
London and North-Western Company, 2741. es. 10d. To
balance cub and debits, 27.9201. ea. 7d.
In answer to a question from one of the proprietors as to
when the line war likely to be completed, the chairman re-
plied that it war not yet commtneed. (Laughter.)
A PROPRIETOR remarked that this was quite a model
railway company, and he proposed a vote of tbauks to the
directors for the judicious manner In which they bad used
the funds (tutu/wok to their management. (A laugh.)
The CHAIRMAN having returned thanks, the meeting
separated.

NEWRY, WARRENPOINT, AND ROSTREVOR.
Yesterday, the eigh,h ordinary general meeting of
the shareholden of this company was held at the officesi, 19,
Moorgate street. Lend NsWILY AND MORNS in the chair.
The report stabs that "the directors for some time prior
to the last half-yearly meeting were convinced that, under
existiog arrangements for the conveyance by water of goods
between Newry and Wenenpoint, and from the unfinished
state of the lines authorised to be constructed to the interior,
' an effort was necessary for endear, uring to bring on this
line the goods traffic. With this object in view, ai.d al.o to
promote the moat advantageous working of the line, they
stated in their lest report that they hoped shortly to be able
to submit terms of arrangement to the shareholders for their
consideration. Mr. William Dugan had for some time been
in possession of the roods traffic from the interior to Warns n-
point, and it was therefore apparent that be was the proper
person to endeavour to make terms with. After some de ay
the board succeeded, through the personal exertions in
Ireland of their chairman, in effecting an sereeriunt wi h
Mr. Dugan. The terms were sub,. queenly communicated
to the shareholders in a circular, but as they were induced
to withhold their sanction thereto, it was not carried .nto
effect. The directors very much regretted this result, and
feelicg that their efforts were thus paralysed, they would
at once have resigned, but conridered that it was for the
interest of the proprietors that they should rosin their
seats until certain claims on the company were placed on
a more satisfactory footing. The subsequent working of
the line has proved that the traffic during the winter
months is insufficient to meet the werkin; wrists ;
whereas, if the agreement had been ratified, a tubd would
have been provided more than sufficient to ply the interest
at 6 per cent. per annum on the debenture debt, and it
would also have facilitated arrangements for providing means
for paying off the bondholder+, and thus place the fittellt3 of
the company in a better position."
The belance.sheet to Dec. 31 trite' an estimate of liabili-
ties amounting to 18,6561. 13s. 71., and assets to correspond,
but including 8,7051. arrears of cal 1, which are party dis•
putrid.
The CHAIRMAN said that the directers regretted
mush the eisspproval of the agreement proposed to have
been entered into with Mr. Dugan, but the onus must lie
with the shareholders. He felt naturally averse to continue
in the direction of a company where the directors did not
enjoy the confidence of the proprietary. He had to move
the adoption of the report and then to tender his resigna-
tion.

After some discussion, in which Mr. Chadwick, Mr.
Shand, Mr. Lea, and others took part, is the course of
which it was stated that a better bargain might pPrhaps be
obtained from Mr. Dargsn, the report was armed to;
but, at the instance of Mr. Shand, it was rtoo!ved that •be
meeting should be adjourned to Friday next; at..l, a ter
the usual vote of thanks to the chairmsn, tte procetdings
terminated.