The Express.
London, England, 1850-02-15 00:00:00

NORTH-WESTERN.

The ordinary half-yearly general meeting of the
shareholders In this Una of railway, was held at Bkipton,
ea Wednesday b ' at, P. Dawson, Isq., in the chair. Five
out of ea of the directors were also present, and about 60
shareholders. The peinelpal matter which gave rise to die.
mission was the pa agent of the directors to lay a second line
of rails eking the lise teem Skipton to Clapham. This was
strongly objected to by several shareholders on the Brewed
that it would involve the outlay of some 50,0001. of additional
capital, whisk the shareholden would have to find if the di-
melon surd net barrow on the debentures of the company.
The pound et eampiaint was that by a vote of the company
the shares, whisk me nominally 201., had been limited to 161.,
and that parties bad purchased shares on the faith of that
arrangement.
The CHAIRMAN congratulatml the shareholders on
again meeting them, and under las gloomy prospects than
before.
'rite report stated that a resolution should be passel autho-
rising the directors to borrow any additional sum they may
require not exceeding 100,0001. The preferential stock was
created with an idea of benefiting the old shareholders by
borrowing capital from them, instead of from the public.
Of the shares Aired to them only 8,003 have been accepted.
and as they hoped to be able to borrow money from the pub-
lic at a lower rats of interest, they proposed to restrict the
isms to this number.

The capital account showed an expenditure of 760,9161 Se.
Ild. The entire receipts are put down at 7,3631. 15s. 3d. ;
and the expenses at 4,6781. 12s. 4d., leaving a profit of
2,6851.2 e. 11 d.
The adoption of the report having been moved, and, after
much discussion, mended,
Mr. JOSEPH GROVES moved as an amendment
" That the raising of any funds towards the formation of
soother line of rails be deferred till the next general half-
yearly meeting, or until the completion of the line, which
it is suppoeod will be open throughout in July next; sad
that a spend meeting be called for the purpose before any
double line be prceeeded with."
A 8 zzzzz OLDER reconded the amendment.
Mr. LUPTON, in reply to a question from Mr. Juror
WATSON, said 960,0001. would be the total amount of capi-
tal the director' thought they would require, but if they
could borrow this 100,0001, a sufficient amount, upon de-
bentures, they would not call upon the shareholders for six-
pence. The directors proposed to borrow, on their own per-
sonal responsibility, and only call upon the stiareholders for
the amount of any such loans as they could not repay by the
debentures of the company.
Mr. RIND, in answer to another question, said the direc-
tors intended to sell the land at Poulton and Denny
which had scat about 10,0001., as soon as they could do so
wish advantage. He oho said that ten miles of the Poulton
branch had yielded 601. out of 1201. of the receipts on the
whole line; it had paid the working expenses during the
winter and a per cents." besides.
After • very long, desultory, and somewhat excited dis-
cussion, the amendment was pat sad lost, only seven persons
voting for it, sad the report adopted by a large majority.
The CHAIRMAN next proposed that the directors be
authorised to borrow 100,0001.
. .

Kr. LUPTON seconded the :notice, which wu carried
unanimously.
Mr. HIND neat proposed—
.. That for the porposee of this undertakiag, and on con-
tingency that the directors may be unable to borrow money
oa the debentures of the company to pay certain loan, they
have obtained or may °Main on their personal security, the
directors be empowered to make a roll or calla on the old
shires above 151. per share."
The resolution was canted with may one dissentient.
Mr. Henry Aloock was re-eppoiated auditor to the com-
pany, and, after more than three hewn spent in dismission,
the meeting Unlimited by voting thanks to the dolman.

INATOTRATIOX OF TIM ORIAT Trill:11A1 BSIDOI
°VIII Thu MIN•I —sWIAIIIIIIII7 lest the mond tube war
lowered to its permanent aeet on the Cansarvonshire side, it
the proems din distinguished founder, Mr. nobt. Stephen-
son. So successfully was ovary pert brought to bear
on lowerieg the tube on the rock tower, that as extension of
threceitteuthe of an inch took place, denoting great vigi-
-1 dity. The ple of Wednesday, and again on 8 Mayday, when
the wind was west ant by south, or at right angles with thy
bridge, did not affect the oust-nue is the least, though a
prewar* of seventeen and a half pounds to the square foot
wee seciertained. The only nelleished operations connected
with this bridge are the filling up of the pp lathe nearside,
mid the grand Junction with the Carnansashire tower, for
which a period of three weeks will suffle•—two other weeks
will sulks for halo, the rails—from which It will be seen
that the line will be in readiness for opening within a period
of Ave weak/ from this date. Of mune than will be k pub-
lic demonstration on so interesting an mcasion ; and we
know It to be the intention to get up an ovation for Kr.
Sieakegkene Chihattek.tis in the us I a public estertainment.—port
W