The Express.
London, England, 1850-07-15 00:00:00

The oesuidilen et investigation have just issued
tbs./ repast ee OM asks of this eompaay. They state that
ivory due pisessges seems to have been taken by the diree-
Mos Si obtaft embed me fair sad reasonable terms ; but the
deems Si esseptsie Om line as soon ea partible, and the con.
estement !urgency el plebs pee eesion at once, produced •
ellnlyellonesmalbe Man and the purchasers, which UT-
mhaMd
hit the meet part in the payment by the ewe piny of
marbleise_ peen, resulting in en expenditure under this
head at 983,4671. etyma the parUantentsty estimate. Re-
ferring to the elkestors' last report, they found that 30,000
tons of rail* were contrasted for ley three irenmasten at the
same time each to finish 10,000 tons at 91. 10a. per ton,
and 7,9981 tow of shahs at 71. 3e. 6d. per ton, welch. in-
cluding charge) for delivery, amounted to 346,6302. These
Pastries were entered into in June, 1846, whits those for
comensucing the contraction of the line were not concluded
until the month of September of the same year. Oa inquiry,
it was established that no advertisement for offen to per-
form the works for the construction of the line was pub-
lished; but • circular wee, on the recommendation of Mr.
Bidder, the engineer, addriesed to sena contractors, inviting
them to make tenders; and selections from them were made
by the directors of the parties to be employed with every
degree 'of farness. The engineer stated to the committee
that the above mode of obtaining tenden was deemed prefer-
able to that of inviting them by pnblis advertisement. The
30 stations on the lisle cost 367,1731., of which about 23,5001.,
appears to be for machinery, signals, and sthoellaneoas
steak. The total wet of the station at Stoke-upon-Trent,
fiesluding the buildings for the engineers' department, and
lierkiltor fag repairs, amounted to 158,9781 , and the put-
des of land for the same, 24,6001., making a total of
188.6781. The land obtained for this purpose contained ne
liites, of which 11 acres are as yet unappropriated. Thee
works were executed between the months of August, 1947,
sad June, 1849, without any competition having been, in-
vited. The several station works constructed by Mr. Jay,
under the supervision of the engineer, have cost in all
228,0421. The creation of the electric telegraph cost tie
company 15,1191. The law charges up to December 31,
1849, amount to 122,3181., being upwards of 1,0001. per
mile. Above 63,0001. or that sum seems to be attributable
solely to the coat of conveyances of land, and to expenses
arleirg on the disputed claim. of landowners. The en-
gineers,' charges amount to 66,2701. Mr. Wright has under-
taken the working of the line, finding locomotive power,
for 13d. per mile run foe panenger trains travelling at the
rate of 30 so 40 miles per hour, and for goods trains at 140.
per mile, for a speed of 18 miles per hour, and 131 d. per
mile fora speed of 12 miles per hour. For etch first-class
carriage in a train he is paid 11. ; for each compohte ear-
riage, Id.; second-clue, Id.; and third-else', Id. per mile
run ; horse boxes, II.; breakvans, Id. ; trucks, Id. ; and
empty irons, Id , per mile run. The accountants, Messrs.
Clinker, Bell, and Co., teem satisfied that the statements
which have been, from time to time, laid before the proprie-
tors have been faithfully rendered from the books of the
company, and that the books sr. kept upon a correct system.
It appears that nut of the Wolverhampton agency amount,
15,0491. credited to the revenue, no more than 6,0491. can
now be deemed realizable; and that 9,0001. of the tune tint
must be considered ea a loss. The directors have advacced
3,5001. to the occupant of the hotel at Stoke (which cost
8,8431. in its construction) for furniture and effects, as - leo
4001. more to the lsndlcrd of the hotel at Stone for the same
purpose, which stand mortgaged to the company as a security
for these NUTS. The prier paid for the land is stated to be
on the average about 6,4001 per mile; :nee ateuming five
acres to each mile (including stations), makes the amount
nearly 1,1001. per acre. The committee state that the
amount actually to be provided for, to meet the nal:e'en,
on the 31st of December last, is 325,9311, instead of 287 3781.,
a. stated by Mr. Quilter. There is a further liability for the
construction of the line to Newt—tele, estimated at 49,831 e,
making the total liabilities 375,7541, subject to the redu.• ion
of such amount of calls in &near SS may be received. The
committee consider that the number of directors might be
limited to nine, and that the sum of 2,5001, fix-d al their
remuneration, should in like manner be Twinged in the same
proportion. Adverting to the want of scetmmodaticn at the
town of Stoke for a public meeting of the shareholder,,
amounting to about 4,400 in number; and, at all events, as
there are in London ants in the adjacent counties a body of
1,251 shareholders, holding at present 74,6.54 chars., being
nearly half the entire number, the committee suggest the
propriety of the winter half-yearly meeting being held in
the metropolis. They also recommend that the periodical
reports of the directors should be circulated at least
ten days before the half-yearly meetings. The com-
mittee are of opinien that considerable retrenchments
might be made in the salmi's of the otficen, and any
increase in their salines should in future be regulated by
the profit ; a principle which the committee believe might
be intrcduced to the several branches of the undertaking
with infinite benefit. The committee desire it to be under-
stood that they have absmir ed from entering into matters
connected with the past er future policy of the company.
During the whole course of the Investigation, nothing has
appeared to jastify the belief chat the board of directors have
promoted their own private advantoces at the expense of the
company. The report is signed "J. Brien, chairmen,
H. Blair, W. Rowe, W. Bartel., and W. G. Taunton." The
other members, Messrs. eh:ill:See and Haywood, have de-
clined to sign their names to the report, in consequence of
some important facts and recommendations which have re-
ceive 1 the sanction of • majority of the c..minittee being
omitted from the report, and particularly as no specific re-
ductions of sal • . arc recommend, 1.
The accountant's report stags that the company are au-
thorised to raise by shires and leers 5,820,1001, which
3,200,0001. consists of ordinary shares, 1,170,0001. of prefer-
ence shares, and 1,450,0001 of loans. The amount raieed is
4,473,4971., with pewee to raise a further rum of 1,346,5021.
The total liabilities of the company amounted on the 31st of
December, 1849, to 451,1991 ; in order fully to provide for
which it would he necessary to realise further capital to the
extent of 287,3781 Towards this str.ount there existed out-
standing calls in , not carried IS the credit of capital in
the backs, to the exteat o: 22,441., leaving 264,9311. to be
provided for.
The directors, in their circular to the shareholders cam-
plain that the report of the committee of investigation is
altogether silent on the charge, which Led to the app:int-
meet of the committee. The directors thitik that the report
should have distinctly stated whin., of th• se charges had been
substantiated, or candi lly avowed that they had entirely f la d.
They presume that a more accurate record, and a more com-
plete exposition of the finances, proceedings, and prospects
of the company, may be found in their past reports, copies
of which they have sent c ith the committee's report, for the
informatieu of the proprietors. The directors state that, in
their belief, there is no undertaiting of the kind in a more
healthy and honest condition ; the mortgage debt is com-
paratively small, the current receipts exceed the gement
expenses, and no further advances v ill be required from the
shsreholders. They anticipate a continually increasing SUP'
plus of receipts over expenditure, uutil the railway she.:. at
no distant 'retied, yield a more than average return ter the
capital invested.

PROPOSED MONUMENT TO HIE LATE SIB RODENT
PEEL IN BtuatlNCl/SASI.—A movement has been set on 'not
in Birmingham for the erection of a monument to the late
Sir Robert Peel. A meeting was held on Friday cveinng,
whereat certain preliminary matters were settled, and there-
after an adjournment took place until next Tuesday even-
ing, when the Mayor will preside over a public meeting.
, The fedi:owing jettir was read from Mr. S:holetield, M.P..—
" Llndon Reform Cluh, 11th July, IS.so.—Sir,—Your note
of yesterday has reached me toe late for me t. reply to A by
this evening's rat but I hope you may get this in time
for the intended meeting tomorrow. It is not as hoar
since I was tithing with Mr. Hume and Mr. Cobden es to
the steps to be taken to move Birmingham on the subject
of some enduring memorial of the eminent envies' of Bir
Robert Peel, ace I need, therefore, scarcely add how Wad I
am to hear that my tswasmen we • ing. As regards my-
self, I can only say that you may freely nos my name as
pow president, if you can't get a better (though I am sure
you can, if you try), or in any other capacity in which yea
may think it will be most usetuL I am heartily with you.
Never, I believe, was a statesman better entitled to the
people's gratitude than the late Sir R ;berg Peel. I say this
without committing myself to all the opinions he professed,
for, on one most important one, I entirely differ from him ;
but, even in that one, it le inspeasible not to adinjt hie
honesty, and his uniform ability and zeal in ads-math-1g it.—
I am. dear sir, In haste, yours respectfully, WILLIAM
SCHOLITIELD." _ _

TUE MAYOR OF SOUTHAMPTON has invited the
Lord Mayor of London toe grand banquet, in return t.r his
lordship's hospitable entertainment a few weeks ago at the
Mansion House to eacourage the great Industrial Exhibition.
The Lord Mayor has accepted the invitation, and the ban-
quet will take place about the middlc of next month in the
Town Hall above the bar gate of Southampton.
EXTENSIVE SEIZURE OF SMUGGLED MALT.-111
consequence of secret information ci nveyed to them the
officers of revenue at Maenclochog, South Wales, made se-
veral extensive seizures of smuggled malt •s.st week. Many
of the inhabitants of the place took part with the smugglers,
and &resistance war offered, in wtich the officers receive.t
soma rough usage. The seizures, however, were ultimately
anted.
A BONNET MAKER STARVED TO DEATH. —ON
Saturday, Mr. Wm. Carter held en inquest at. the
Duke of Glouoestet public house. Union•row, New la.:nt-
road, on the body of a poor bonnet maker, named Susan
Aosell, aged 59 years, who, it was alleged, had died :rom
starvation. The evidence adduced went to prove that the
deemed had suffered great deprivation from her incapability
of tending a suNicieney to get a proper quantity of food for
her support. She had bet n known to go without victuals
for days together, and then would beg of some of the neigh-
boars. She had been advised to apply to Newington work-
house for relief, but intormed the witness that " she would
rather die in a ditch." An order was obtained for the assis-
tance of the pariah surgeon, who c me and prescribed for the
deceued, whom he described as dying from disease of the
heart and lungs, no doubt brought on by the want of proper
seuriabieg food. She died on the morning of Thursday from
exhaustion. The jury returned the tollowing verdict—
" Did from dime's of the heart and lungs, acesfferattd by
cite want of proper food.