The Express.
London, England, 1850-03-01 00:00:00

EAST ANGLIAN.

Yesterday the half-yearly meeting of this company
war held at the London Tavern, Bisboregate-street.

H. BRUCE, Esq., took the chair, oiliZn a long report was
read, the main paragraphs of which wire the folio s ing
" A statement of the revenue account for the half year
ending 31st Dec., 1849, shoes a nett revenue amounting to
8,3271. lls. 93., which is a considerable improvement on the
result of the preceding half year. It will be satisfactory to
you to find that, notwithstanding the lines in the Lynn die-
triet have to be worked by three distinct sets of engines and
carriages, the cost of working the 62 miles has cot aseraged
more than Gl. list per mile per week II we take into con-
sideration the six miles from Lynn to Watliogtoc, run over
by the Wishesch trains, the length will b.. 69 miles, and the
cost about 61. 2,. per mile per week. An arrangement has
been made with the Hartlepool Coal Company for the erec-
tion of another steam ecgine on our harbour station, at the
mouth of the Nar, by which miens we will be enabled to
afford great despatch to coal yew's, and thus
draw a greater proportion of that traffic to our line.
We regret that we are still unable to announce the comple-
tion of the agreement of tam nee by which the cveral mat.
ten pending between this company and the Einem
Counties Company are to be settled. Our solicitor. assure
us that every possible effort has been made by them to bring
this matter to completion; but that the draught of the
agreement still remains in the bends of the Eastern Counties
Company's eo!iiitor. You are aware that one of the points
to be settled by this arbitration is the terms on which the
Eastern Counties Company are to use the line from St. lee.
to Huntingdon, as agreed between them and the Ely and
Huntingdon Company. The Eastern C unties Company
have had the entire use of that line front its first opining to
the lot October last, on which day they handed over all the
traffic to this cempany. Both the passenger and goals
Hoek were consequently worked by them for the East
Anglian Company, throughout that mnirti ; but in No-
vi usher the use of the line was resumed by the Eastern
Ccontiee Company. Oa Ist December, they having given
notice of their intention to &haulms the goods traffic, we
commenced 'forklift that traffic by horses, and the accom-
panying statement exhibits the result. The Eastern Counties
Company have, in accommodating the passenger traffic, run
their engines and carriages over this line tour times, daily,
since Ist of Dec, caber." _

The CUM HAAN, in nv.ving the adoption of the r+ port,
said that upwards of 200,000:. of bcnd and simple cichtors,
had given their CAIN nt to the agreement mentioned in the
upon, and he hoped the remainder wculd alan give their con-
sent. The directors would conduct the company with all
the ecmomy possible, and they had the consolation of having
never promulgate.? any fictitious rolits, neithi r would they,
for it was their opi..ion that the line would, in course of time,
become a good undertakiag.
Mr. ROSS asked what would be done with any surplus
_ _

The CHAIRMAN said the directors intended to pay, cut
of the revenue ►t their disposal, first the interest on the
bonds and simple contract debts, and to appropriate any
balance to pay the interest on the preference shares.
Mr. ROSS was disposed to move a resolution that after
the payment of interest on bond and simple contr-et debts
the remaining balance should ro to pay interest on the 7 per
cent. preference 'hares, amounting to 23,6501.
The CHAIRMAN thought aty resolution of that kind
would be premature while the company was still liable to
litigation. (Hear, hear.) On the whole year at preiant
there was no surplus ; on the contrary, the revenue was WO/.
mii.us the sum payable for interest. It was agreed by the
bondholders to w it for their principal for seven years pro-
Tined they got their interest regularly.
A PROPRIETOR asked what sort of contract was made
with Messrs. (Lay and Bond?
The CHAIRMAN said it was terminable at three months
notice, it Lund necessary; it was a contract altogether fa.
vourahle to the proprietors. (Hear, hear.)
Alter some further discussion, the report was adopted, a
vote of thanks was pissed to the chairman and efirectors, and
the meeting adjourned.