The Express.
London, England, 1850-08-29 00:00:00

Mr. AHDRRSON waded the meths, shish, after some
dimmable, arse eerried.
The CHAIRMAN sell the cent subjeet Orr the wenelders-
des of the seeetieg .as se to ON war Is which the parities
of lb' 1111.0011111141N-rld be serried es IA haler.. Hitherto
0.4 b" nukes ei Mr. elites', of Meschetter.
seivenatant and he had denoted own data sad
Nee matte nwhel meegestions us to ti • mode In shirt
rn, should be kept. Iles eharge out her-year eiseuated to
IThf. Ila. 10d.
Mr. FORD mewed Mr. Cettenth merrices be sostinned,
which wits agreed to.
Mr. ANDIRdON moved that the allemandes to the
ttmiltee ho lee red we 100 guineas per somas. cestendivi
List teat swilleleat, sese.derinr the amount of duty as stated
by Mr. COMB la kis swot repel
Amer is.. dLewsion the modes was negatived.
Mr. ILAMSIT wed that the report be eirralaterl ton
days belong the weds.; but this was shoes to he imprac-
doable, and nail es •,ived.
The CHAIRMAN proposed two rewilutims, agreeing to
1,250/. trona Mr. J erns Richardson end 1,0001. from
lisre.taMes, io rtspect Mebane terriers' by them es armors
tad anberritiers to the irkit,y Building Company, worn
arrangement not in say way to prejudice. the claims of the
spas) against tic se In respect of any other liabilities as
directors of this eoespany, esker palely or in conjunction
with tether eirecton.—Thle resolution wee carded.
*rote of t hark. to the Oilman and directors was carried
attar imously, and the meeting e. pegged.

SHEFFIELD, AND LINCOLN-

The half-yearly seating of this company took
plies yeetertlay at nom Ti. Earl of Ifaxisonorou pre-
aiArd.
,The repot of the diresilors is divided iuto four (*s-
tipule-Ist. the d'imiption of the railway, docks, canals, sod
other works; 2nd, the laaseial position ci the company;
1!', state of the w alts and plant: 4th, penal policy end
Sat .re prospects. Under the first of those heads we have
the names and kerb of the ten several railways or drench'',
which form • total of 1071 miles. The company b ale. joist
owner, with the L mdas and N rib Western, of the seven
Inds* of the Smith Junction and Altrincham lies. Then tire
company possesses tour am* of the total length of 1111
Taos come the docks at Or mil. 45 acres sad et
New Rolland, 21 avert, Manic with we 1,200 feet of quays
**slim the Humber. 7,200 feet of qu sy room. The compass
kes oder power to make 641 miles of sew railway, all which
is tincenunesased, exceptiog the 141 miles of the Whaley
Brides branch, winch are partly mace. Lattiv, we have an
enumeration of the plat of the compeay, which is said to
be of the hest sharirer, sad In good repair It Melodies 96
orgies', M drat-clam carriages, 217 mewl-class sad cow
posit. carriages, 132 other passenger carriages sad teethe,
and 3,937 1/11110111/ of all descriptions. The Orton work-
shops are said to he quite equal to the maintenance of this
stock. The next subject relates to the fleacces of tie cons
piny. It is authorised to raise by spans, of various denomi
nations. 6.609.5001. Of this cum there kas to en r ceived
4,914.7761., and the power to barrow to the eztent of
2,003 1661 has been ezereised to the eldest of 1,641,1061.
There has been eapeeded 6,765,7041. The arrests of cells
are 197.9571 ; and there are in the heeds of the cola
piny falsetto shares repnseetisg 635,0001. of capital. It
b not expected that mere than 10,0001 of the Germs eau
be recovered. The farther estimate of requirements to
complete the develop meat of traffic is Wocaheed tassel
27.0001.; New ft-Itand, 23.7001 ; stalest accommodstior
167,8001. ; Orinraty Docks, 246,1601. To which add eerie us
Habilitate, 360,4291 ; tasking, with 96 0661. of unpaid in-
toren to the shatebilders, • total of 920,1461. of capital
required. This is to be met by borrowiar, under the powers
of the sompasys old sets, 360,0001. ; by preference shares,
tender the new act, 635,0001. ; by screw of calls. 10,0001 ;
end bv borrowing 11110 K the ousel ems, 39,2001 —total,
946,0001. So far es to the capital peanut. The bait
year's revenue is 135,5801., of which 51,7101. is br nes-
union ; 61,0901 fey goods; 13,4561. for coeds. The
expenses absorb the rum of 87.4551 ; loos on meals, 3,0741. :
tamed on mortpegts, 30.4041. ; total, 120,9331. • which
leaves for 'prefer. anal and other share', only 14,6471.
To this is te he added • Wooer of undivided prod., last
December, 9,5941 ; total, 24.2411. This sum would pay
the lutenist oat • No I Quarter, to the 30:h June, leaving
• halaLet of about 4,0001 towards the 63,4001 due to the
101. proltrence shareholders, but it is sot in hand, having
bees applied to meet premise liabilities. Main, therefore.
interest warren's, rayed, at &later@ day, ere to be used.
The directors have bits wrier chief; —they have derived
great advantage from Mr. •Iport's ability—the traffic for
the present ball year is retail y inereesing—the works and
plant are in • good state—the New H Used docks will
shortly augment the trails ; bet to Ormsby they loth as
their great support—they tees made satisfactory trifle
arousgenesta with all aeighbmtriag ectepanies, bet the
Onset Northern. Mr. Robert Stephenson reports
spinet abridging the capacity of the G. mashy docks, and
the Rumba Ferries affair has been pieced in the bands
ef Mr. Carter, um of the solicitors of the London and North
Western.

The Beige CHAIRMAN said he had seamed's to omspy
time Le • isrg by statement of their Weirs, imams& es it
would be found the report tutored very fully iota them
smitten. It would appear that the canals wens losing eon-
@erns, but they must ant take them by thessalves; they
mast consider the &glory 'hue canals would hay_ been able
to irffir. on the refire's if they had remained se separate
sompanies. With regard to the accounts, es to ex
passe eetinered with the undertaking altogether. he
hit wisfisd, sad the board of directors felt esti:fled,
that the present amennt would be the worst they should
have to lay Wore the shareholden ; that their ex
pewee had now readied the extreme point, sad that
they would cot again occur to the saute eztent.
They had lately sompieted the whole of the line,
which had rendered their expenses comparatively larger than
they would be in future years. Lad upon campanili those
exposes (net with the esusepsalias haliyear of last year, I
because the whole of the line wes not the', opened) with the
beipigay os,.ing Dwane!, 1549, they would Ind that in
some other motets the 'opuses this halt year were not 03
heavy as tey were then. -They bad been enabled to effect
reductions bilks number of the racial staff of the company,
and is Giber departmeats. The auditors' report had
bate some day-libelers the shareholden, and on th- face of it
it looked very like a directors' report. He observed Use
auditors reeosamerded the bond to tette some reps to is
press upon Mr. Ricardo that be should carry out the policy
which he recommeeded. Boas such policy was certainly
highly &estuary ; and Mr. Ricardo, in the parliescurtary
committee on the subject, pronsistd he would do so; but if
he did not. he (the chairman) was not aware of ar.y
means by which they Gould compel him to do *3.
At the request of the Committee of Inuatirati•n Mr.
&plusses had bee. employed to report on the ft asibilry of I
redwing the retest of the aorta at the Grimsby I
docks, sad is kis opinion it would not be desir-
able to GO GO. It would be • satisfactios to the
shareholders le knew that • gentleman of such high
character in his profession had been applied to for his opinion
on this &eject. As to the proceedings which it was resolved
at the last meeting to take with regard to the purchasers of
the Humber ferries, the affair had been plaited in the hands
of Mr. Carter, a 101.1160 f in Bierningtiam, the purchasers
having declined to refund any stun beyond whir might arise
from the miscalculation of interest in the secretary's °Mee.
The chairman concluded by moving that the coerrate seal
of the coespuey be 'Axed to the neaten of skier-hoiden,
of holden of coesolidated stock, sad of annuitants under the
Shefs • Id Canals Purchase act, sow produced.
Mr. CHAPMAN (deputy-chairman of the company)
seconded the motion, sad it GM carried.
The noble CHAIRMAN thee moved the adoption of the
report sod s•• lenient of accounts
Mr.,MORETON said there woe a discrepancy on the fame
of the 'wants: there was 12.0001. bad disappeared from
them tbourh he did not know when it was.
Mr. TURNER—It had gone to pay interest on No. 1
Quarters.
Mr. MORETON mid he did net know who bad received
it: he had received dividend warrants, bet nothing more.
They were row told, after paying 2,0001. in times
of the contract for the Woodheed tunnel, that there was an
sites of expenditure of 47,0001.; and he should like to
know whether the 21,0001. put down for law expellees would
cover the charges on that head for the half-year He could
not believe it would ; neither could he believe that
111. 12t. 101 would cover the whole of the charges for en-
gineering. He am much dissatiertied that the report should
have paned over the Humber ferries job se quietly; the
servant, who were included in that disgraceful
affair hod not been diethuged Weed he had
been told one of them had been promoted.
They were told that the South inaction line wee very in-
efficiently worked. Why was it sot He was astonished to
find that, for this large suite!, they had only received •
return of l ye, r coat. Why wee this company on such bad
terms with the Great Northern Railway Compaay. T icy
were doing all they could to obstruct that company, end
why this was dose the report did not inform them. He
bad received an account iseidentally from the Great Nor-
thers Company, cad it was said that Mr. Alpert, the present
manager of this emapaay, shared the hatred of the great
railway potentate, Mr. Haddon, towards the Great Northern.
He was very dissatisfied with this state of things, and he
thought the eisinpaay were asaificing too much to accom-
modate the London and North Western directory, and
propiCite their favour. He was told that there was an
intention to suite sew poeferesee stack, and he complainers
that if such a thing wee is ecatemplatlon there alteuld be no
foreshadowing of it in the report. Their revenue would not
pay a dividend even to gisareatasd stock, aid when was the
mosey to come front to pay • new preference ? He
regretted to find that the wealth( expenses were
still so high. The noble chairman, twelve months
ft*, when they amounted to 601. per cent., said
they would be missed to 60 when the whole line was
opined , but sew, lashed of that, the e"Ps^ was pa lug
56. (Hem, hear.) The Losserhire and Yotk.l ire wor tap
upturn, with as ONOIIMPne iamb traffic, were only 46 pee
cent., or 2s. per mile per leek, whiles this cosinany were I
Pallaff 61. par Whine Weis teem then that. ( Rear.)
as. WWII,' lineelse, le reply to Mr. Moreton, said hemold mare the shooderiden thee the statements of that pita-
Osman were quite shessone, sad the questions Mild asked as
to prises whisk he ii=ol bed been endued lit the state-
nest of hive beat easily aneweved if
be bed appired7ll% estapeny's came, without taking up
the time ef w eiseakre -with thaw. (Neer, bear.) With
regard to the wain el the 64,0001. ef Mouth Jearition debt,
that was Issimend in the Weal estimate winealsed in the re
pftt, of the teed of the company, *deg then at
196,0001. The Austen bpd dm ibis shown would
more them ewer ski they would have eventually to ply ;
bat it was sot the le easel any indeed's In the
easecats swoon by lb. asset inn which has
been set apart for tbasymoperk (Applesee.) There wee a
treed deal sr Web ISt Ilesibia lad some hits, is which it
tumid be Mann Is Wks MEN but one point be shied
particularly le sestLit, Too tbo soaks lbstlbe pow 'Mar