The Northern Daily Times.
Liverpool, Merseyside, England, 1856-02-29 00:00:00

(FROM OUR OWN REPORTER.)

The half-yearly ordinary general meeting of the St.
Helen's Railway and Canal Company was held at the
station; Str Helen's, at twelve o'clock yesterday. Gilbert
Greenall, Esq , M.P., presided. The following gentlemen
were among the directors and shareholders present :
t Messrs. Charles Halland, S. Steers, J. Rigby, R. S.
Harlow, T. L. Rushton, R. Dayleigh, E. Greenali, John
Smith, James Eaton, James Gorton, Samuel Bishop,
Charles Bishop, A. J. Jones, H. Gaskell Taylor,
John Whitley, junior, Th,,mas Haddock, and James
Hesketh
The S

rs have to report that the increase in the gross
for the six months jugt ended, when compared
with the same period of 1854, is £3475, against which must
hp paced an increase of working and renewal charges Of
£1984, and of interest of loans and preference dividends of
£586. X. s. d.

,ecretary, Mr. Sinclair, read the following half-
REPORT.

yearly
The

Toe gross revenue for the half year, as shown
statement of accounts circulated 35176 12 3
the shareholders, is
And the working charges, rates, taxes and }
13683 18 7
rents amount to

Or 39 per cent on the receipts.
Leaving a surplus of 2149 13 8
Deducting from which, for interest
6659 4 2
on loans

For renewal of permanent way.... 350 0 0
And for two half year's contribution }
826 1 0
to cost of additional works .....

T .enves

7835 b 2

13657 8 6

To which must he added the balance left, after
payment of the dividend declared at the 84 4 5
last general meeting.... ...... . ............

13741 12 11
Out of which the dit ectors propose that a dividend shall be
declared for the past half year,
Of 2 per cent on stock (13) , 3600 0 0
/, 3 ~ „ (C).... 3757 10 0
21, )1 „ (D).. . 2674 2 6
~ 2+ „ the .£25 shales 18f2 16 4 0
„ 2+ ~ £2O shares 1353 1602 11 3
And 3 „ £2O shares 1855 1192 16 0
-- 12843 3 9

Leaving a balance to be carried to the next acct. of 898 9 2

From Jatuto June July to Den.
The number of passengers e,,n.
veyed during the year 1855, 263108 303467 566575
was ..

Showing a decrease of 74,201, on tle number conveyed in
the year 1854.
The weight of coals and merchandise carried—
Tons. Tons. Tons.
On the railway
On the canal . ... 232753 296175 639228

Total
Being an increase of 68236 tons over the weight carried in
the previous year

The directors have filled up the vacancy caused by the
lamented death of their late esteemed colleague and deputy
chairman Mr. Kidd, by the electio❑ of Mr. John Blundell,
of St. Helens.

The North Staffordshire Company having introduced into
Paliament bills to enable them to exercise running powers over
this line, to extend it from Garston to Liverpool, and to pur-
chase this company's undertaking, or amalgamate it wi h
their own, the directors have considered it necessary to petition
against the concession to that company of the extension line,
or of any rights or powers over this company's undertaking.
GILBERT GREENALL, Chairman.

The Chairman said : Gentlemen, I shall conclude the
few remarks which I think itmy duty to make by moving
before I sit down, the report which has now been read,
with the half-yearly statement of accounts which has
been laid before you, be received and adopted. It is
with much satisfaction that the directors meet upon this
occasion, inasmuch as we have now arrived at a period
of time in our concern to which some of ns have
looked forward with much interest, not to say with some
anxiety, and we are in a position to lay before you
accounts which are so satisfactory that it is to me a
pleasure to lay them before you. I may say in the first
place that I should wish each shareholder in the room
should, as clearly as the directors do themselves, under-
stand the accounts, and that all should know for them-
sets-es. minutely cud intirnat,ly, all the intricacies, if
there be any, and everything conducted with their
property, its management, and its prospects.
The gross income of the year, as you will perceive, upon
referring to the accounts for the half year ending
December 31st, amounts to £35,176 12s. 3d., which I
am glad to say, is an amount superior by some £2,500
to the gross receipts upon any previous half year since
the existence of the company. It is an excess of about
£3,475 upon the gross income for the half year ending
December, 1854. The disbursements, you will perceive
are £13,683 18s. 7d., which represents a cost of manage:
went equal to about 39 per cent. upon the £35,176, the
gross half year's income; 39 per cent., you are aware as
well as I, is not a very high average for railway expendi-
ture. I hope, however, that the directors see their way,
and that it will be their object, and their endeavour, to du
all in their power to reduce the annual cost of the
management, to something which shall be lower than 35
per cent. I hope that they will be able in this respect
to accomplish their wish. The balance applicable to
loans and dividends, amounts to £21,492 13s. Bd. For
the payment of interest upon our loans, we require
£6,659 4s. 2d. For preferential interest, we require for
the half year £12,843 3s. 9d. The balance which repre-
sents the profits, upon the half year ending December
31st, 1855, is £1,990 ss. 9d. From that protitof £1.990
ss. 9d., we deduct, as usual, for the maintenance of our
permanent way, the sum of £350. We also deduct for
additional works £826 Is , leaving a balance to be
carried to the credit of revenue, of £Bl4 4s. 9d. I should
wish to point out to the observation of the gentlemen
here, that that £826 Is. contains in it the sum of
£399 10s. 2d. That is an amount which we deduct from
revenue, which you will remember, we were unable to
deduct last tinKr, and which, I am happy now to see,
we are able to deduct from the present half year. If
that £399 108. 2d. had not been deducted, the profit,
instead of b tin £Bl4 4s. 9d., upon the half
year, would have been £1,213 14s Ild, or something
representing proximately 8s per share upon the 3,168
shares which are considered as the old shares of the
company. There is one feature in the concern which,
upon all occasions, I am anxious to impress upon the
eyes and to the notice of the shareholders, namely, the
large amount of our preferential capital. You—all of
you know the circumstances under which that preferen-
tial capital was created, and I think we have all lived to
see times and events which justified the directors in then
issuing that preferential stock. On our paid up capital,
which is represented, as you will see, by a sum of
about £912,000, the preferential stock is an amount of
about £703,000, and we require an annual income of
£39,000 to pay the preferential dividends. Now, it has
been a matter of great satisfaction to myself, and also
to those with whom I have the pleasure to act, that we
have been at all times able to meet that large dividend
upon our preferential stock. I hope that at this moment
the holders of preferential stock see and know that their
property is safe ; and there is little—l would almost say
no doubt—on my mind whatever that the concern now
will be able conveniently itself to pay all the preferen-
tial dividends. It is a great satisfaction to me to be
able thus strongly to express my opinion. There is
another point to which I wish to call your attention ;
and it is, as all the shareholders well know who have
observed the weekly returns which the company pub-
lishes, the very satisfactory state of our traffic, and of
our revenue at this moment. (Hear, hear.) On the
24th of February, which has just passed by.
we received the last week's return which was
published. For the eight weeks ending then
the gross return was £10,637. The r-turn for the cor-
responding eight weeks of 1855, was £9,250. There-
fore, we have -ta excess upon these eight weeks of 1856,
over 1855, of about £1,420. if the revenue continues
during the whole fifty-two weeks of 1856 to rise in the
same proportion over the year 1855, we shall have an
increase of income of from £B,OOO to £9,000, deducting
from which 40 per cent for the expenses, which is more
than I think, even at the present high charge will be
required, we may calculate upon having at the end of
the year 1853, something like £5,000, which will be
divisable upon our old stock of 3,168 shares. Now, I
know how very dangerous it is to prophecy. I give you
the facts and the figures, and I work them out to the
result which I have made, and I hope we shall find a
happy result at the termination of the year. Now, gen-
tlemen, theme is one subject which the directors have
considered with all the gravity which they think its
weight deserved, and that subject was, whether they
wthol:utelrid;,:ive any dividend out of that £Bl4 4s 9d, to the
old shares. We came to the conclusion, that it is much
)111. ee s holders
ra o e
t de or
to(lldeoasro,,hear.) My own feeling is,
and not to state the reasons to
the gentlemen who held the shares. la the first place,
nsider that the money is as it were, borrowed from
eththeyat rtieiceeyilm,•
anosdifotnt
Istehsoiht.pares, that this is only a deferred
Payment, a
of that to which'th
stock, when we come to expect we shall be,eY are entitled iefillwn reetchaeirinevge someu pleo,n al) tsahrelt
year. There is anothedeclare a large dividend on the
o the termination of the next half
'desirable that the directrorreason, which I think, makes it
tsli.ouol
of our
onuor
ppraeyfeurepnttoi
atlh the
stock
last
penny of their revenue.
my intention, to let the holdershulk we are bound, and it is

reel, that the directors are determined, so far as in them
lies, to make it a good, safe, valuable, and marketable
property. I think the security will be felt greater in
that stock, when the holders of it feel that the manage-
ment of the concern is in the hands of directors who look
carefully and attentively to the interests, who have
carried the concern through so many difficulties, and
brought it to its present position. Again, I think that
the old shareholders may be satisfied that the manage-
ment will never forget their interests, when they con-
sider that at that board a very large proportion, indeed,
of that old stock is held ; and I think they should regard
the directors as a body of men who had a strong per-
sonal in:erest in taking care that the old shareholders
were well cared for. It has been a matter of deep regret
to us, that we had the misfortune to lose the services of
a gentleman who was the oldest of our directors, and I
believe has been associated with the fortunes of our com-
pany since i.s commencement. (Hear, hear.) I mean
Mr. Kidd. Of that gentleman it is needless for me to
speak. His character was well known, and his value
and worth appreciated in the neighbourhood. (Hear,
hear.) The directors thought that they would do well to
add to their board a large holder, if we could find one, of
the old stock. With that reason, lam glad to say, that
we have been able to secure the services of a most
eligible gentleman, ➢lr. Blundell, who, you will see,
has been elected by us. I am very glad, upon this occasion,
to see Mr Jones, who has audited the accounts. I shall be
happy indeed to hear from him any remarks, and so will
the directors, which lie may think fit to address to the
meeting. I regret, indeed, the absence of Mr. Crosfield,
and i•s C4USe. I wish, myself, and lam sure my col-
leagues join me in that wish, that that gentleman may
return to us to perform the valuable duties he has dis—
charged, in the possession of health and strength before
very long. (Hear, hear.) With these remarks, gentle.
men, I beg to move the resolution, that the report which
has been read with the half-yearly statement of accounts,
be received and adopted. (Hear, hear.)

Mr. H. Gaskell Taylor seconded the motion, expres-
sing his full concurrence with the discretion the direc-
tors had exercised, in withholding the dividend at
present. (Hear, hear.)
The resolution was unanimously adopted.
Mr. Charles Holland moved the adoption of the
dividend mentioned in the report.
Mr. Jones in seconding the motion stated, that every
thing in the acounts was in good order, and well
accounted for t> his satisfaction. In addition to what
the chairman had stated, as reasons why a dividend
should not now be declared upon every share, and
which lie was very happy to see seconded by a share-
holder, he might state one very important thing, that
towards the end of the year or thereabouts, some £BO,OOO
would fall due in their debentures, and if circumstances
should not alter, if the war should unhappily continue,
and they had then to go into the market, they would be-
yond any question, hay:: to pay one per cent. more th in
they did now, a hich would add £BOO per annum to
thier interest. Another reason was, that it was a very
important thing at all times to have from £l,OOO to
£1,200, if possible, as a balance overstanding. (Hear, hear.)
They had been very happily circumstanced in having no
accident which might call upon the company to pay serious
damages • but yet they could not possibly foresee what might
occur, and he therefore thought it only a prudent measure
that they should have something in hand to fall back upon
without taking excessively from the sum which might be
required for dividend. (Hear, hear.) He considered that,
under all the circumstances, the traffic, for a long time past,
had been wonderfully kept up, and there could be no doubt
that, if peace were concluded, a very great expansion of
trade and business would take place in Liverpool and
the towns around, and a very great increase won't'
consequently come to the railway. (Hear, hear.) He wished
the dock were a little more in use ; it would be serviceable
not only in the interests of itself, but also in bringing up
coals for the purpuse of shipment. But they could not
force those matters. (Hear, hear.) They would, nee,s-
sarily, he hoped arise, and the time come when there would
be a very great increase in the traffic of the line.

The (311 airman reminded Mr. Jones that there were
scarcely any of these four per cent bonds which would fall
due during the next twelve months.

Mr, Jones said it would be somewhere about twelve
months, and he thought the only practicable measure would
be to keep some money in hands.
The Chairman : I quite agree:with you. I may add that
I omitted to say one thing—that we had an elaborate and
careful valuation of our working-stock made by ➢lr. Ken.
aedy, and the working-stock. accoriing to his valuation,
represents exactly £54,423 8s 7d.

Mr. Jones observed that there was a vast improvement in
the appearance of the enqines. They were now a credit to
the railway—they were now machines fit to look at and fit
to work. (Hear, hear.)

The resolution was carried unlnimously.
This was the whole of the buiness, and the proceedings
closed with a vote of thanks to the chairman.

POLICE COURT.—YBsTETIDAY.

(BEFORE 31R. E. EVANS.)

THE " FAST YOUNG MAN."—James Jones, alias Davis,
who had been remanded on a charge of having offered twelve
yards of silk for pawn, fur the possession of which he could not
properly account, was brought up. There was a good deal of
mystety about the afftir, and the p isoner was evidently a
very "fast young man." He was very well dressed, his
appearance was most respectable, and he is a person of superior
address. It wee stated by the police that some time in
January the prisoner arrived here from London, and went to
lodge at No. 1, Ray-street. There was some suspicion
attached to him, as he had no apparent business, but lived a
fast life. He went from this town ito Chester and returned
in about a fortnight with a well filled hag of valuable goods.
He went to offer twelve yards of silk in pledge, and when
asked some questions about it he ran away, but was followed
and captured. Mr. Clough produced a letter in reply to one
he had written to the police of Bllton, in reference to the
prisoner, and then asked the magistrate for a remand to Satur-
day, as he should then be prepared with fmther evidence.
The prisoner asked for a remand to this day, when he said he
could explain the whole affair, He wam remanded.

BURGLARY IN A PUBLlCsuou'sn.—Three persons, named
James Nl`Cann, William Evans, and Peter Cosgrove, were
brought up by detectives Povey, Horn, and M'Culloch, on a
charge of having broken into
,the Farmer's Arms public-
house, Palk-road, belonging to Mr. William Holt, and
stealing a coat, a pair of boots, a cash box, containing about
£3, some cigars, tobacco, and a quantity of spirits, and other
things. It appeared, from the evidence adduced, that, on
Tuesday night, the premises of Mr. Holt had been locked and
fastened in the usual way. In the morning, when one of the
servants came down, sho found the hack doors open. It would
seem that the persons who entered the house, did so through
the cellar grid, and, having gained admission, they regaled
themselves on a fine ham and somo bread, that lay invitingly
on a table before them. They partook of large quantities of
ale and gin, and, it would seem, they took their time, and eat,
drank, and made merry, at the expense of Mr. Holt.
Having done justice to the viands, they searched the place,
and carried off all property they could lay hands on. The
officers traced them to a cellar in an adjoining Street, where
they had left a quantity of gin. From this, the constables got
scent, and went to the Aintree race-course when they arrested the
prisoners, some of whom had portions of clothes that had been
stolen, on them. They were fully identified and the bench
sent them for trial at the ensuing assizes. Two of the prisoners
are " ticket of leave" men.

(BEFORE MR EVANS AND MR. HARVEY.)

CHARGE CF CRIMINAL ASSAULT ON A CHlLD.—Duncan
James Boyd, described as a ca-tain of a ship, was brought up
charged with having committed a criminal assault on a child
named Hanmar, the daughter of a man named Richard
Haman, residing in Silkhouse-lane, Tithbarn-street. Mr.
Snowball appeared for the prisoner. The details were of
course unfit to meet the public eye. Mr. Snowball repudiated
the charge, and said his client Seas a highly respectable man,
with a respectable wife and four children. The case he con-
tended was got up through spite, as the prisoner was about
leaving the house of Haninar, where he had lodged. The
magistrates convicted the prisoner of a common assault, and
fined him £2, which he at once paid and was discharged.
(BEFORE MESSRS. CROSTIS WAITE AND MOLT.)

Messrs. Crosthwaite and G. Holt sat in Mr. Mansfield's
court, in the absence of that gentleman, and disposed of a
variety of small cases, dock and other informations, &c.
CHARGE OF ASSAULT.—U,rIes Henry Wilson was
charged by his sister.in law, Margaret Wilcox, wi:h haring
assaulted her. Mr. Bluck was for the defendant. The case
was this. The mother-in-law of the complainant gave her
some beer on Saturday last, and in the evening, when her
(complainant's) husband came home, there was a " shine"
kicked up, and the husband went off on a "spree,"
and
returned about two o'clock in Cie morning in company of the
defendant, and, as the complainant spoke to him about the
impropriety of his conduct in taking her husband away, he
struck her two blows and cut her mouth. Mr. Bluck cross-
examined the witness, and produced the brother of the
defendant, who stated that the female was " fresh" in drink,
a nd that she attacked the defendant with a basin, and with it
struck him on the head. The defendant was fined Ss and
costs for the assault.

ASSAULT ON A WIFE.—A pretty young woman, named
Mary Robertson, the wife of a barber residing in Scotland
road, charged her husband, John Robertson, with having
assaulted her, blackened her eye, and thrown a bucket of water
on her, on Saturday night last. The complainant went to
the shop of her husband (they did not reside at the shop) on
Saturday night, with his and two workmen's supper, and it
was proved in evidence that he heat her and threw water on
her, and gave her a black eye. Lie was sent to prison for
three months.

A New York correspondent writes on the 12th instant :
" Rachel takes her final departure to-day from the United
States. She has not been able to fulfil her engagements,
which extended to one hundred and fifty performances, and
it is feared she returns with her health materially impaired.
But she carries back with her the affectionate regards of
least two hundred thousand Americans who hare seen her
impersonations and felt her magic power."

NORTHERN TIMES.-LIVERPOOL, FRIDAY, FEBRUARY 20, 18156