The Express.
London, England, 1850-02-16 00:00:00

RAILWAY STING.

READING, OyELDFORD, AND REIGATE.

Yestarday tichalf-yearly gem. almeetingofthisomn-
rll place at tae oncrn of the sompaay, in Royal
buildings, for the general purposes of the emantay.
The 8 &WARY road the report sad gamest of the
hall.year's account, from whisk it appeared that the general
expenditure of the company had amounted to 743,9601.
The South Eutern Rulway Company required addi-
tional warts the tragic and former chetahs. ; and, assuming
that the work, would east front 23,0001. to 30,0001.,
the snout added to the expenditure, with the in-
terest payable I. the shareholders, would go far towards
abesebutg the attire share capital of the company, find by
the set at 800,0301. The capital of 600,0001, goaraateed 6,
per sent. under the agreement with the South-eastern Bail.
way Company, had • reedy been celled up, and powers had
been give, to the dineton at the privioes meetings to raise
the further sum at 200,0001. on the security of the heeds of
the moray.
The CHAIRMAN moved that the shareholder, should
adopt the amounts, and so mach of the report only as related
to tale bait- yearly meeting,
Mr. TURNER seconded the motion, whieb, after a brief
ditemsion, was peened unanimously.
The directors having been elected.
The meeting was then made special.
It having been intimated that sulkiest notice had not
been given to render this special mating legal, after coml.
derable &tension it wee adjourned till the 12th March next.
After a vote of thanks to the chairman, the meeting sepa-
rated.

LONDON AND NORTH WESTERN.
REPORT OF THE AUDITORS.

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The following ere most important portions of the
Metof the auditors to the shareholders In this line:
e state of doubt and uncertainty existing as to the
reel position of railway property, engendered by the extra-
ordinary events of the pest few months, has determined us
to deviate from the course hitherto adopted by your auditors,
in simply confirming the half-yearly accounts, and on this
conaion to accompany them by a special and detailed report.
Ica the month of November we commenced our exami•
Ration, as on the previous occasion, by. personally visiting
and inspecting the principal manufacturing, repairing, and
stores' establishments of the company. These establishments
we consider fully competent to the performance of the ies.
pertant duty of maintaining in its integrity the rolling stock,
estimated at nearly 2,000,0001., and upon the efficient con-
dition of which depends not only the traffic and consequent
maw of the line, but also the safety of the public. Whilst
reseeding our opinion that there still exists, in the arrange.
meat of them, considerable scope for the continued exercise
of the judicious system of economy which has been for some
time past steadily in progress, we willingly bear testimony to
the order and efficiency with which the whole are conducted.
The question of the maintenance of the rolling steak, in
Its complete working value and integrity, as a charge upon
current revenue, hes engoged our special and most anxious
attention, and in order to satisfy ourselves that it peruses a
working value fully equivalent to the debit to capital stand-
ing in the company's books, that the additions under this
had have been bona Age addi ions to the quantity end power
of the stock, and especially, that no unprovided deterioration
tat been allowed to accrue, we have obtained returns show-
ing the first cost, performance by, end the aliment expended
in ?town and renewals upon each engine, carriage, weggon,
Boa, and we have carefully examined the result.
These returns ere too voluminous to be made available
in the present retort, but it will be satisfactory to the pro.
prietore to know that they show the following results :
Original en et of stock to 31st December, 1846 £1,409,002 0 0
Leto written off as "Depreciation lend," exclusive
of charges for renewals is repairs' account, up to
31st Dee:ember, 1846