The Express.
London, England, 1850-08-03 00:00:00

EASTERN UNION RAILWAY.

Yesterday a special meeting of this company wee held at
Eadley's hotel, litridgz-street, Slackfriare, for the purposefrldga-street, of
adopting certain resolutions with a view to the reduction of
the mortgage debt by means of debenture shares. Kr. S.
Blotto= took the chair ; and, in opening the promediap,
said he thought there Gould hardly be a difference of opt-
nioa on the subject of the resolutions to be submitted to the
Meetlag. A circular, bearing date July 26, espleining the
*Meets for which the meeting wag convened, had heat sent
to every proprietor. and he weald now call upon the Sem-
toy to read it.
Mr. illatearogna then read the following chide: :
" The directors of this company having obtained as set
to enable than to pay off the mortgage debt (which eat was
egbigiagd to the ahateholders during the progress of the
till through parliament, end obtained their Amaral), par.
paw at • epeoial model, advertised for the 2M p0i,0,00
eibedt for discussion the reedatioaa mend heels. The
dimaten believe thee, with the power which liege men-
tions 'geld center on them, they may readily Mesa a pea-
dos at the dobt—and reduce materially the Merest ea the
notelets, borrowed step; The' Eiders Vale, Debea•
tare Shares 'bare prir attached to 'Shoos whirls mince
fail to obtain the favour o the public Mies knows and duly
appreciated, and. Suit ISM* on (available torztium
repro-
tium a idelleiattdrlier sad braeletal 1p
epee lad the ordallemee, the -
"Wader of torderet th•
easpeay. With cm' views the' &mem boo dielOssir
to lota so time in proposing the matte lee tell="43ll'_.,_
The Caasammt then read the resolitlres ••••••
had bees given, sad atited that theft elided wile Or eitokk
the direceose soto *mg With the 'aphid meant of thj
VW td be is • raki,* Vf nos! Mt! ritri!So,vitli a

• Ifs 1.

dividend end. et the same time., to relieve theiwesives from
80 sdienaio MB*
The first sad emend resolutions were to the following
offset: " That the whole net whieh this company may have
bonowed, or may lays power to borrow on mortgage or
band, should as coos as possible be permanently reduced, so
that the total amount of mortgage debt outstanding may not
azosed1150,0001." " That the directors, for the purpose of -
giving effect to the; prearding vesolution, be authorised to
.717.
create, order the powers of an act of parliamsat, ' E uteri
Union debenture sharer; and to raise thereby a sane not en- /.041C
media, 285,0001., being about one-half of the present bor-
rowed money."
The ant resolution suggested that the shares be of an
amount net exalted*, ten parade each share, and that that
amount, aid time of that deposit. and of calls thereon, he
fixed by the direaston, me that tech payment he entitled to a
rata el interest from the date thereof, not exceeding 41 per
mat. if fated ia perpetuity, or 5 per cant. if redeemable
within 14 years. The but resolevion was to the effect that
every holder of a mortgage or bond now due, or to benne*
due oa or before let Jaa., 1851, be offered payment of it is
the proportion of one half its amount by " debenture shuns,"
aid one half in a new meetgage, sad that all bondholders
be kilted to inform the directors of their intentions with
reference to the liquidation or renewal of such mortgages or
bonds.

Mr. Bitown inquired whether, supposing the directors
should °built only a portion of the loan they required, they
would apply that portion to the reduction of tem mortgage
debt ?
The Ca&tarsax said that every shilling which might be
reined la the manner proposed woull be approprated to the
o*ot in question.
The resolutions having been carried unanimously, the
.sties equated.

Awns* AND BOtTLOONI.—M. &water, secretary to this
line, has written a letter to the journals denying the truth of
the report that a fusion had taken place between that com-
pany and that of the Northern Railway.

MINES.

(hero the Minim, JourriaLl

The amount of basins.* actstaLy transacted during the
week appears to have been limited; we:withstanding, din'.
dsnd•pging and leading mines continue being sought after.
Shares In the following mines have changed hands during
the week:—But Wheal Rose, South Tolgus. Trelawny,
Mary Ann, Crebor, Condurrow, South Plain Wood, South
Caen Brea, Wheal Sarah, Tresavean, Wheal Harriet,
Wheal Langford, Trsfaels, But Tamar, Mediation Downs,
South Basset, llennock. Bawden, Tremayno, West Cara.
doe, Tina/oft, Tamar Consols, Drake Walls, Cook's Kit.
clan, North Buller, West Providence, Venton, Levant, Tr.-
gear Consols, West 'Dolga*, Trelispick, and Bodmici Moot
enrols.
In foreign mines there have been transactions in United
Mexican, Imperial Brazilian, Linares, Cobre, St. John del
Rey, Australian, and Copiapo.