The Express.
London, England, 1850-08-31 00:00:00

LEEDS AND THIRSIE.

pres 141. enal=.l7ll,
sp wins Lewd
E▪
we., Adman 4=Alf • Wed eldbellsos, be the Oar. Mari
• athrliwithellisttheif posisiseam, tow prousdisp,
"WA nab en ihmthlth,rollestedtli
magi Ashok fa ihe emmigee
The g
, if read the report a the
dilute's, whish the are the pen
purges :
Mem" As
8111.1""aimill the Lemitellar lismeedNeolkbYWthberiteraNalOstraPs.jesn'
gethressip of the peesseger Modem tie
at Lulu by whisk and the ethos
ef raeSs than two ran-
franyms,%l":ll6orposeei that the peddle oarreamos will be pro-
moted, sad as oddlithal tideehdani, elreelally whin
the Leads. aid Meath Western Otinuir
_shell have dem-
mewed roans into that sloths, nth* kls arsthol
wIl take arm sea teeth. 'The alma= nowt to have
to stat• that amines vas smatiamo to by ONO is the
way a the
hone.,
=locese ail Whig to I
end hem the the Wig to pelts
sad aalaseels. Saar to the MON am be ex,
pane en the somplethe of the mamonien milk the East
obi Woes Toe todebe Rainy et Enstisthereerh. whisk tros-
meths will, it is arlapend, be emagestsdi sealy next year,
the weeks at that plat bang awe la sedge pregnas. With
rerun to the MR' ea fireadiee gad tot.eear, the direc-
tors do sot se dolpale any esesiderabls laareme until the
extension line has base somplsted to the Durbin Railways
and. the porta of the Tees. Se he 4 as this =meaty ro-
ma. us shut out, as at rant, tram direct serer to the coal
end coke fields, sad is aspondsat for its supply of each
traffic open a rival lies, whose rawest it is to carry every-
thing put the tandems of this railway at Think, the
revenue from this mum must be ezpeeted to coatinus un-
utisfactory ; sad** say method by width a fair Mears of
such traffic is to be 'seared for this company is be complew
ing, without delay, the extension refund to. There are
goad grand" lee espectiag ultitaatsiy a largo nesmien of
moreinadiss trails from Stockton,Hartnpool, and Mid-
dlesborough, bat heat whisk the company mast ansenrily
sentiage le be estheely shut oat so long as the eztensiaa line
sundas lasomplete. The only works which have been
la prunes daring the lest half-year on the Hu-
*pool Extandsa, are thus upon the Term un-
met, the heaviest work on which, namely, the viaduct
awns the Toss, at Term, is now ansplusit. But the
direotows have set felt themselves at liberty to proceed with
OM letting of the remitting sontraws, until a sufficient num-
ber of the new filth shares authorised by the act of 1849 have
been taken by the shareholders. Those shares were duly
tweeted by the company's resolutiens of 7th October lest, '
and were immediately afterwards allotted to the proprietors
is the primaries§ to which they were entitled to them. In '
consequence, however, of those shares having only bun
taken up to en issonsidinablei extent, it has been thought De-
anery to isms en address with centrist's of the con of coin-
pi-ting the whole undone:king, making an appeal to the
shareholders to subscribe for their proporticns of the new
fifth shares, so as to enable the railway to be finished in the
manner therein proposed. The directors in the eddy's
referred to laid before the shareholders all the informal.%
bow log oa the subject in their possession. In order to
verify the estimates of the company's engineer as to the son
of crautructing those portions of the line yet remaining to be
let, they have obtained actual tenders from several respecta-
ble ocintractoes and they are now enabled to Mats that
the whole el the extension works, refereed to in the esti-
mates attached to the sadness, may b. completed, according
t• those tenders within the amount so militated. In the
'salute of the tender,
of the company up to the proposed
completion ot ths line, :he directors have endeavoured to
avoid all exaggeration, and have band their estimates of the
receipts u much as possible on the facts already in their
possession. The directors would, however, nuke, the
shareholders that every day's delay theresass the mown of
1 is sustained by the company in cousquenee of the non-com
p 1.5 of the railway; and that in the event of the share.
s not suberioiog capital to the extent now required,their
calculations as to the future will be entirely disarranged.
The number of preference fifth shares that have been COn•
&duall subs:abed for since the Wu of the directors' od-
dities la July last now amounts to 6,822, representing a share
espial of 58,2201 • but as this amount is insufficient, and as
se allotment of thrati shares can be made until such further
amount hu been taken up m will justify the directors in
proceeding with the ran iks n the manner described in their
address, they can now only repeat their earnest appeal to the
skarehilden to send in forthwith their applications for the
proportion of fifth shares to which they are entitled, belie,-
tag this to be the only mods of bringing the line into pro-
liable use, and of rendering remunerative the capital
already invested in the undertaking. The dinettes are
'mourned by the result of the solicitor's recent conferences
with the shareholders in the pri nips' towns, resolution,-
having boon adopted by them almost unaLimooaly,
conoundisg that the extension line be completed without
delay, in the manner proposed ; and they accordingly
mast yet to receive such anamount of applications
Ihe elleaments of th• fifth shares as will enable them
'to poommi forthwith to let the remaining works, sad
easesosse the cams to the shareholden. Active
measures have been taken by the company's solicitors
to collect the outstanding anus of calls on the 601.
shares, sad since last half-,early meeting 9,2261 its. 2d. has
been collected. From the auserou urgent claims upon
the company from the contractors, landowners, and others,
which the directors have found it necessary to meet the pay-
ment of the last instalment of interest on the Hartlepool
extension charm has been postponed is conformity with the
shareholders' resolution of 28th February last, there being no
funds in hand for this purpose. The following is a return
rat the company's working stock up to the 30th of June last:
Fast-class carriages 20, to deliver 1, total 21; second-clan
and composite carriages, 36 ; third-class carriages, 20 ; goods
cerrisgel and timber truths, 109; gads Taos and cattle wag-
gon and break warless 164, to deliver 3. total 167 ; coal
and coke waggons 529. to deliver 59, total 588 ; locomotives
26, to deliver 3, total 28."
The statement of amounts will be found in the Ezpreu
of August 29.
The CHAIRMAN, in moving the adoption of the report,
made varlets explanations with regard to items of the
aeeoaais.—Mr. T. Gorr ',eroded the resolution.—Several
gentlemen complained of items in the accounts and bed
inanagemeat on the part of the directors. A long discussion
ensued, in the course of which
Mr. POWELL said the subjects for consideration by the
meeting might be comprised under three beads—first, was
there that fair and reasonable prospect of increased traffic
which would warrant the company in railing capital to
couplets the extension to Hartlepeol ? Secondly, how was
the mousy to be raised ? and, thirdly, was the conduct of
the direction and meaurement such as to develops Mho ut-
most amount of available traffic ? Mr. Powell then pro-
ceoded at considerable nark to detail his estimate of the in-
errand traffic likely to arise from °peeing out the Hartlepotil
It:tendon, and the data upon which he founded this esti-
mate. The result at which he arrived was, that from
the various sources he enumerated there would accrue to
this sompany an increased traffic of 35,0001. per week,
or considerably more than 1,0001. weekly in excess of the
estimates of the dealing, by the opening of the line to
Hartlepool. Now Hartlepool was geographically the nearest
port to Leeds, sad it posssmed the additional advantage of
being to des north of this great borough ; so that, with the
traffic tally developed, the York, Newcastle, and Berwick
would sou be flogged into good behaviour towards this
company. (Hear, hear.) But before the innate he had
estimated read be realised, this company had a gnat battle
to fight; sad it required a manager at its head who would
combine the fortitdr and the unioiter in an eminent degree to
develop all the traffic sad to keep all parties in good humour.
(Hear, bear.) After the report bad been adopted, us would
move the appointment of a casamithee—not an adverse one,
for he considered adverse committees injurious—to inquire
whether the traffic wss hilly developed, and also whether
they unused the best pessihts mode of management.
(Hoar, hear.)
The CHAIRMAN, after replying to some gentians from
another shareholder, moved the adoption of the a port,which
WIN carried unanimously ; sad a resolution ordering the
payment of dividend ca the preference shares was also
agreed 91-
00101111131 of IWQMRT.
Mr. WARD (Hull PrePood
That, inasmuch as general dissatishation seems to eSis t
amongst the shareholden as to the prawn mods of manage-
ment, the directors be respectfully requested to take the
matter into their iniaadrats and serious ormaidnation, with
the view of effecting a beneficial change, either by appoint-
ing a more efficient and energetic onaager, or in any other
wai:hat shall appear to them met szpodaut."
said that the matter bad been se thoroughly dia.
Wind alreadypport that he did not think it worth while saying
a ward in su of his 'notion.
Mr. POWELL said he had raggepted a committee, it
tom true, but not a committee of investigation, which
mht never to be appointed smut where the share-
holden could not trust to ths honesty of the directors.
His opiniaa was, that a committee should be appointed to
as the directors in making Metairie' into those subjects
upon which dissatisfaction had been expressed. Without.
however, stating that he differed from the resolution moved
by Sir. Ward, he thought it would be more convenient to
pat it in another form, and thessfore he moved, as an
assimihnsat :
"That • committee be now appointed to mist **directors
lamthstherisi the uffisionay or otherwise of the means now
• collecting and deurapiag the traffic, particularly in
meedlsadise and minus* and Oso as to the sufficiency of
the poessat measging staff of the company"
Ater sem aeannatioa, the amendment proposed was
pat bath the ehele, and naiad by a very hip thrtiseity ;
sod *ea Meath. Powell, Stables, Numem,lfulmm, and
0.447.= @granted the °nominee be buying out
the
liz. JACKSON bugged to moth a eoeshiNen &staring
the Gaston of the manias that it was theihohle hithwith to
ems ea the were use the extsasion line to On pot of Hat-
.l glad the ether ports meth alike Tom.
rWALTIOI STRAW sallthiel the Ithelthithe which
tiros gannet an.. wit.
The ORAIRMAN bevingtheved the
_geoilhomehla a the
mbito' of 111111/0 swathe of Central Shift shmes, epos
ithillibta shwa had been paid,la and astable of width
men to ploy say farther cal.
Mr. AID asked ths aldllllll2 whether. M the thanes
saw a reossnalis prosieset of the shares bang tam IV *57
would an sass the favomasareiwicirtaal aver nthosel
She lie weather sad the low le 991.19011.
Me enalks, use la anus f
The CHAIRMAN replied
et Masten WOWS MA
SEIM' to seassesam whet lainewohloi
glair lien wad give of trek
in Is
isedil be to send in *Mr ten alleltheedo st.=
Arab
Mr. WARD—D' yea mesa T per eat
Th. caamium—iell; awl t. OR net, es at an, es
yea pines.

The resolution o forfeiture balsa carried, and the CHAIR-
aux, la mower to a gametes, said tkat it wee quite under.
steed that the Harms% esd Pawky Bisset would not, for
the prelest at least, lie nada ; sad thendwo ao u would
be dee speak.
To. badness elthe samba winded.